GUIDE FOR BASIC ACCOUNTING AND REPORTING

FOR DIRECT LOAN PROGRAMS

WITHOUT COLLATERAL

IN FEDERAL CREDIT PROGRAM

EFFECTIVE FISCAL YEAR 2017

PREPARED BY:

CREDIT REFORM SUBCOMMITTEE AND

UNITED STATES STANDARD GENERAL LEDGER ADVISORY DIVISION

GOVERNMENTWIDE ACCOUNTING

BUREAU OF THE FISCAL SERVICE

U.S. DEPARTMENT OF TREASURY
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

- i -

TABLE OF CONTENTS

OVERVIEW.................................................................................................................................................................. 1

CONCEPTUAL FRAMEWORK ................................................................................................................................ 4

ACCOUNT TABLES ................................................................................................................................................... 5

TRANSACTIONS - YEAR 1 ...................................................................................................................................... 9

FINANCIAL STATEMENTS ................................................................................................................................... 57

TRANSACTIONS – YEAR 2.................................................................................................................................... 71

FINANCIAL STATEMENTS ................................................................................................................................... 89

APPENDIX 1: ACCOUNTING FOR MANDATORY DIRECT LOAN PROGRAMS...................................... 99

APPENDIX 2: ACCOUNTING FOR DOWNWARD RE-ESTIMATES IN DISCRETIONARY AND 

MANDATORY DIRECT LOAN PROGRAMS .................................................................................................... 107

APPENDIX 3: NEGATIVE SUBSIDY .................................................................................................................. 121

APPENDIX 4: REFERENCES................................................................................................................................ 137

APPENDIX 5: CREDIT REFORM SUBCOMMITTEE...................................................................................... 139
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

- ii -

Version History

Version

Number Date Description of Change

1.0 12/03/2007 Updated account titles and transaction codes. Added 

transaction 1-21. Modified Appendix 1. Deleted Appendix 2.

2.0 08/31/2010

Updated account titles and numbers and crosswalks based on 

USSGL TFM Supplement T/L S2-10-02. Modified 

Modification and added Modification Adjustment Transfer 

transaction. Added transaction for cancellation of unused 

borrowing authority. Added Appendix 2, Accounting for 

Downward Re-estimates in discretionary and mandatory direct 

loan programs. Added Appendix 3, Negative Subsidy. 

3.0 2017` Updated account titles and numbers and crosswalks based on 

Bulletin No. 2017-01. Updated Appendices 1-5.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 1 of 139 January 2017

OVERVIEW

This guide is designed for those who:

• Formulate and execute Federal credit program budgets, including accounting for assets, liabilities, net 

position, income, and expenses, and budgetary resources;

• Prepare agency financial statements;

• Audit the agency financial statements;

• Manage or provide service to participants in loan guarantee programs;

• Design and maintain computer systems for financial programs;

• Instruct others in basic accounting and reporting for direct loan programs without collateral.

The guide is illustrative, rather than authoritative, and is categorized as “other accounting literature” in the 

hierarchy of accounting principles for Federal entities.1

 It supersedes the original and subsequent direct loan 

scenarios. Users may download the guide from the Bureau of the Fiscal Service (Fiscal Service) Web site at 

https://www.fiscal.treasury.gov/fsreports/ref/ussgl/approved_scenarios/approved_scenarios.htm#creditreform.

In order to understand and gain the most from the guide, users must have a working knowledge of the 

following:

• Budgetary and proprietary accounting, reporting, and terminology;

• The United States Standard General Ledger (USSGL) accounts for basic annual operating appropriations 

and revolving funds; 

• The Federal Accounting Standards Advisory Board Standards and Technical Releases related to credit 

reform accounting;

• The Credit Reform Act and other requirements established by the Act; and

• The Concepts and Standards of Federal credit program accounting and reporting, fund structures, and 

terminology. 

This guide is a study in accounting and reporting for a discretionary direct loan program under the Federal 

Credit Reform Act of 1990, as amended, for direct loans obligated after September 30, 1991. Direct loans are 

disbursements of funds by the Government to a non-federal borrower under a contract that requires repayment 

 

1

See §142, p.28, Financial Reporting Requirements, OMB Circular A-136, dated October 7, 2016.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 2 of 139 January 2017

of such funds with or without interest.2

Transactions are presented over a 1-year period (fiscal year 1) for a fictitious Federal agency with a single direct 

loan program with no risk categories. Transactions for fiscal year 2 show the disposition of the re-estimated 

subsidy accrued in fiscal year 1. Common transactions and reports are covered in addition to transactions 

unique to Federal credit program accounting. However, since accounting for accruals and undelivered orders 

with advances are not unique to credit reform accounting, they are not presented. In addition, transactions 

involving collateral are excluded, since they are covered in a separate guide. Entries are made in general 

journal form, using USSGL accounts, and are summarized in trial balances for each year. 

The transactions shown are:

 Formulation, apportionment, and allotment of the budget;

 Receipt of subsidy and administrative expense appropriations;

 Transfer of subsidy from the program to the financing fund;

 Borrowing from Treasury and repayment of loans and interest;

 Disbursement of loans to program participants and collection of principal and interest from them;

 Disbursement of administrative expenses; 3

 Modification of loan terms, with resulting adjustment to program levels and return of excess 

borrowing from Treasury and reduction of borrowing authority;

 Accrual and receipt or disbursement of subsidy re-estimates and related interest; 

 Accrual of collectible and uncollectible interest from borrowers;

 Amortization of allowance for subsidy;

 

2

OMB Circular A-11 (Revised – July 1, 2016), Section 185.3(d) 3

The illustration is for payment of administrative expenses without prior obligation through undelivered orders or accounts payable. Though 

administrative expenses will usually be obligated before payment, there is nothing about the transactions unique to credit program accounting, and 

hence, prior obligations are not shown.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 3 of 139 January 2017

 Write-off of bad debts without receiving collateral; 

 Capitalization of accrued interest paid; and

 Closing entries.

The yearend agency reports presented are listed below:

• Balance Sheet;

• Statement of Net Cost;

• Statement of Changes in Net Position;

• Statement of Budgetary Resources;

• SF 133: Report on Budget Execution and Budgetary Resources and Budget

Program and Financing Schedule (Schedule P); and

• Credit Program Footnote (including the Schedule of Changes in the Allowance for Subsidy).

A SF 132: Apportionment and Reapportionment Schedule report is furnished at the beginning of each year.

This guide includes five appendices. Appendix 1 discusses basic differences encountered in mandatory 

programs. Appendix 2 provides the recording and reporting for downward reestimates of subsidy for both a 

discretionary and a mandatory program. Appendix 3 provides the recording and reporting of negative subsidy. 

Appendix 4 provides a listing of key references related to credit program accounting. If the references change, 

this document will be updated accordingly and published on the Fiscal Service Web site at 

https://www.fiscal.treasury.gov/fsreports/ref/ussgl/ussgl_home.htm. Appendix 5 provides a list of agency 

representatives that assisted in the preparation of this document.

Users may send questions to the Fiscal Service Web site at 

https://www.fiscal.treasury.gov/fsreports/ref/ussgl/form-issues.htm by using the online USSGL Issue Form. 

This Web site also provides a list of the USSGL representatives and their telephone numbers. Users may 

contact the Director, USSGL Advisory Division, Fiscal Service, via e-mail.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 4 of 139 January 2017

CONCEPTUAL FRAMEWORK

This guide uses numbers and titles for USSGL accounts. When necessary, titles for USSGL accounts are 

expanded by using brackets to capture, clarify, or add specific information, for illustrative purposes only. For 

example, administrative expense, “[Administrative Expense]” is included after the title for USSGL 610000

account, “Operating Expenses/Program Costs.” In the same manner, for interest supplement expense, “[Interest 

Supplement],” is included after the title for the USSGL 610000 account. The USSGL Supplement, Section II, 

contains definitions for USSGL accounts.

Entries are in general journal form, using USSGL accounts, and are summarized in trial balances for each year. 

Note that the financing fund is used only in the transactions for Post-Credit Reform scenarios, and the 

liquidating fund is used only in the transactions for Pre-Credit Reform scenarios.

USSGL accounts that, by themselves, do not directly provide the reporting that is illustrated, are supplemented 

with additional detail. The entries made and the method chosen to illustrate the detail provide only one-way of 

accounting. Agencies may have other ways of structuring their ledgers and making journal entries to accomplish 

the same result.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 5 of 139 January 2017

ACCOUNT TABLES

The following tables identify the accounts used in the guide to record transactions and prepare reports. Since 

the transactions are not comprehensive, the tables do not contain all accounts that agencies may use in day-today activities.

PROGRAM FUND BUDGETARY ACCOUNTS USED

RESOURCES

Anticipated

412000 Anticipated Indefinite Appropriations

Realized

411500 Loan Subsidy Appropriation

411700 Loan Administrative Expense Appropriation

411800 Reestimated Loan Subsidy Appropriation 

420100 Total Actual Resources - Collected

STATUS OF RESOURCES

Unobligated

445000 Unapportioned Authority

451000 Apportionments

459000 Apportionments - Anticipated Resources - Program Subject to Apportionment

461000 Allotments - Realized Resources

465000 Allotments - Expired Authority

Obligated

480100 Undelivered Orders – Obligations Unpaid

490200 Delivered Orders – Obligations, Paid [Re-estimated Subsidy and Interest]

490200 Delivered Orders – Obligations, Paid [Other]
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FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 6 of 139 January 2017

PROGRAM FUND PROPRIETARY ACCOUNTS USED

ASSETS

101000 Fund Balance With Treasury

LIABILITIES

217000 Subsidy Payable to Financing Account

NET POSITION

310000 Unexpended Appropriations - Cumulative

310100 Unexpended Appropriations - Appropriations Received

310700 Unexpended Appropriations - Used

331000 Cumulative Results of Operations

FINANCING SOURCES

570000 Expended Appropriations 

579100 Adjustment to Financing Sources – Credit Reform

EXPENSES

610000 Operating Expenses/Program Costs [Administrative Expense]

610000 Operating Expenses/Program Costs [Basic and Modified Subsidy]

619900 Adjustment to Subsidy Expense

680000 Future Funded Expenses [Subsidy Re-estimate]

729000 Other Losses
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 7 of 139 January 2017

FINANCING FUND BUDGETARY ACCOUNTS USED

RESOURCES

Anticipated

406000 Anticipated Collections from Non-Federal Sources

407000 Anticipated Collections from Federal Sources

412000 Anticipated Indefinite Appropriations

Realized

412500 Loan Modification Adjustment Transfer Appropriation

414100 Current-Year Borrowing Authority Realized

420100 Total Actual Resources - Collected

422100 Unfilled Customer Orders Without Advance

426100 Actual Collections of Business-Type Fees

426200 Actual Collections of Loan Principal

426300 Actual Collections of Loan Interest

427100 Actual Program Fund Subsidy Collected

427300 Interest Collected from Treasury

Anticipated Contra Resources

404700 Anticipated Transfers to the General Fund of the U.S. Government – Current-Year Authority

Realized Contra Resources

414200 Actual Repayment of Borrowing Authority Converted to Cash

414300 Current-Year Decreases to Indefinite Borrowing Authority Realized

414600 Actual Repayments of Debt, Current-Year Authority

Other

414500 Borrowing Authority Converted to Cash

414800 Resources Realized from Borrowing Authority

414900 Borrowing Authority Carried Forward

STATUS OF RESOURCES

Unobligated

445000 Unapportioned Authority

451000 Apportionments

459000 Apportionments - Anticipated Resources - Program Subject to Apportionment

461000 Allotments - Realized Resources

Obligated

480100 Undelivered Orders – Obligations Unpaid

490200 Delivered Orders – Obligations, Paid [Loans Made]

490200 Delivered Orders – Obligations, Paid [Other]
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 8 of 139 January 2017

FINANCING FUND PROPRIETARY ACCOUNTS USED

ASSETS

101000 Fund Balance With Treasury

131000 Accounts Receivable [Subsidy Receivable from Program Account]

134100 Interest Receivable - Loans

135000 Loans Receivable

139900 Allowance for Subsidy

LIABILITIES

219000 Other Liabilities With Related Budgetary Obligations [Downward Re-estimate Payable to Misc. 

Receipt Account]

232000 Other Deferred Revenue

251000 Principal Payable to the Bureau of the Fiscal Service

299000 Other Liabilities Without Related Budgetary Obligations

NET POSITION

310000 Unexpended Appropriations - Cumulative 

310100 Unexpended Appropriations - Appropriations Received 

310700 Unexpended Appropriations - Used 

331000 Cumulative Results of Operations4

FINANCING SOURCES

531200 Interest Revenue – Loans Receivable/Uninvested Funds [Borrowers]

531200 Interest Revenue - Loans Receivable/Uninvested Funds [Treasury]

531300 Interest Revenue – Subsidy Amortization

570000 Expended Appropriations 

577500 Nonbudgetary Financing Sources Transferred In

577600 Nonbudgetary Financing Sources Transferred Out

579100 Adjustment to Financing Sources - Credit Reform

599300 Offset to Non-Entity Collections - Statement of Changes in Net Position

599400 Offset to Non-Entity Accrued Collections - Statement of Changes in Net Position

EXPENSES

631000 Interest Expenses on Borrowing from the Bureau of the Fiscal Service and/or the Federal Financing 

Bank

680000 Future Funded Expenses [Subsidy Re-estimate]

 

4

This account must be zero after closing. OMB Circular A-11, Section 185, Exhibit E, the financing is designed to break even and thus have a zero 

results of operations. If the subsidy money is too great, a payable to transfer it to a designated miscellaneous receipt fund is accrued. If it is too little, a 

receivable from the program fund is accrued for the deficiency. The accounting is such that financing sources must equal expenses, and assets must 

equal liabilities.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 9 of 139 January 2017

DIRECT LOANS

YEAR 1

The Direct Loan Agency has been authorized to make loans beginning in fiscal year 1. The agency has a single, 

discretionary direct loan program with no risk categories.5 The Congress has authorized annual appropriations6

for basic subsidy, modified subsidy, and administrative expenses; permanent indefinite appropriations for 

upward re-estimates of subsidy, with related interest; and permanent indefinite borrowing authority for the 

unsubsidized portion of loans made. The agency’s authorizing legislation makes it subject to the Credit Reform 

Act of 1990, as amended. An authorized agency official provides blanket allotment authority for all realized 

resources, as they are realized, up to the amount apportioned by OMB. 

The agency borrows the full amount it expects to need at the beginning of the year, and gives back the amount it 

has not obligated at the end of the year. All collections are used to repay principal and interest on its Treasury 

loans.7

The agency has authority to obligate $120,000 in loans in fiscal year 1, for which the subsidy model shows a 

21.5 percent subsidy rate, comprised of:

• Defaults, 20 percent; 20.0

• Interest differential,8 2 percent; and 2.0

• Fees, (.5) percent. (.5)

• Administrative expenses for Year 1 have been authorized in the amount of $5,000, and loans are to be 

funded with (1) monies received from the appropriation subsidy and (2) borrowing from Treasury for 

the remainder. 

• It is expected that $11,000 of loan principal, $500 of loan interest and $500 in fees will be received in 

Year 1, and that Fiscal Service principal of $11,300 will be repaid, plus interest of $700 (total $12,000). 

 

5Programs, which have risk categories, must maintain separate financing fund accounting for each risk category.

6While annual appropriations for basic and modified subsidy, which are common in discretionary direct loan programs, are illustrated in the case, some 

programs may have multi-year or permanent indefinite appropriations provided for these purposes in their underlying legislation. Accounting for these 

types of appropriations is essentially the same as it would be for basic operating appropriations or revolving funds, which had them.

7 Although the guide indicates that the full amount of the borrowing occurs at the beginning of the year, it (borrowing) can occur throughout the year.

8

This is the difference between interest charged borrowers and interest the agency must pay to Treasury on loans to make the borrowing.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 10 of 139 January 2017

• Current, definite appropriations, permanent indefinite borrowing authority, and authorization for the 

appropriate collections are authorized in the legislation.

The agency prepared the following request for apportionment (SF 132):

Direct Loan Agency

 Fiscal Year 1

 

9 The SF132 line 1840 should be split between Federal and Non-Federal.

SF 132 Apportionment/Reapportionment Schedule

BUDGETARY RESOURCES Program 

Fund

Financing 

Fund

Budget authority:

 Appropriations, discretionary:

1100 Appropriation 30,800

1400 Borrowing authority 94,200

 Spending authority from offsetting collections, 

mandatory:

1840 9 Anticipated Collections, Reimbursements, and Other Income 37,800

1842 Anticipated Capital Transfers and Repayments of Debt (11,300)

1920 Total Budgetary Resources 30,800 120,700

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6011 Direct Loan Subsidy 25,800 120,000

6013 Administrative Expense 5,000

6014 Interest to Treasury 700

6190 Total Budgetary Resources Available 30,800 120,700
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 11 of 139 January 2017

TRANSACTIONS - YEAR 1

1-1 To record the enactment of appropriations.10

Program Fund

DR CR TC

Budgetary Entry

411500 Loan Subsidy Appropriation 25,800

411700 Loan Administrative Expense Appropriation 5,000

 445000 Unapportioned Authority 30,800

Proprietary Entry

A104

101000 (G) Fund Balance With Treasury 30,800

 310100 (G) Unexpended Appropriations – Appropriations 

Received

30,800

Financing Fund

DR CR TC

Budgetary Entry

406000 Anticipated Collections from Non-Federal Source

407000 Anticipated Collections from Federal Sources

414100 Current-Year Borrowing Authority Realized

 404700 Anticipated Transfers to the General Fund of the U.S. 

Government – Current-Year Authority

 445000 Unapportioned Authority

Proprietary Entry

12,000

25,800

94,200

11,300

120,700

A140

A142

A152

None 

 

10This footnote corresponds to TC A104, A140, A142, and A152. Annual appropriations are considered realized based on the underlying legislation. 

Agencies that have multi-year appropriations in other than their final year, or permanent indefinite appropriations, would normally need to anticipate 

their appropriations prior to realizing them. 

If under a continuing resolution, refer to the Appropriations Provided by a Continuing Resolution scenario at 

https://www.fiscal.treasury.gov/fsreports/ref/ussgl/approved_scenarios/approved_scenarios.htm
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 12 of 139 January 2017

1-2. The agency’s requests for apportionment were approved by OMB without change, 

and the apportionment was recorded.

Program Fund

DR CR TC

Budgetary Entry

445000 Unapportioned Authority

 451000 Apportionments

Proprietary Entry

30,800

30,800 A116

 

 

None 

Financing Fund

DR CR TC

Budgetary Entry

445000 Unapportioned Authority

 451000 Apportionments

 459000 Apportionments - Anticipated Resources

 - Program Subject to Apportionment

Proprietary Entry

120,700

94,200

26,500 A116

A118

 

None 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 13 of 139 January 2017

1-3 Issued a blanket authorization to allot anticipated resources as they were realized, not 

to exceed the amount of the apportionment.

Program Fund

DR CR TC

Budgetary Entry

451000 Apportionments

 461000 Allotments - Realized Resources

 

Proprietary Entry

30,800

30,800 A120

 

 

None 

Financing Fund

DR CR TC

Budgetary Entry

451000 Apportionments

 461000 Allotments - Realized Resources

 

Proprietary Entry

94,200

94,200 A120

 

 

None 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 14 of 139 January 2017

1-4. Borrowed from the Bureau of the Fiscal Service (Fiscal Service) the amount required 

to make $118,000 in loans. 11

Financing Fund

DR CR TC

Budgetary Entry

414800 Resources Realized from Borrowing Authority 92,630

 414500 Borrowing Authority Converted to Cash 92,630

 

Proprietary Entry

A156

101000 (G) Fund Balance With Treasury 92,630

 251000 (F) Principal Payable to the Bureau of the Fiscal Service 92,630

 

11 ($118,000 loans*subsidy rate 21.5% = subsidy to be transferred from Program Fund to Financing Fund = $25, 370. This amount is 

reduced from the $118,000, which would leave an amount to borrow of $92, 630).
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 15 of 139 January 2017

1-5. Paid administrative expenses of $4,950. $4000 was for employees and 950 to GSA. 

No undelivered orders were placed or accruals made before payment.12

Program Fund

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources 4,950

 490200 Delivered Orders - Obligations, Paid [Other] 4,950

 

Proprietary Entry

B106

610000 (N) Operating Expenses/Program Cost [Administrative 

Expenses]

610000 (F) Operating Expenses/Program Cost [Administrative 

Expenses]

4,000

950

 101000 (G) Fund Balance With Treasury

310700 (G) Unexpended Appropriations - Appropriations Used

 570000 (G) Financing Sources from Appropriations

4,950

4,950

4,950 B134

 

12 This footnote corresponds to TC B106 and B134. Typically in standard federal accounting, undelivered orders (4800xx) would be placed with 

vendors to acquire the goods, and the invoices would be accrued as payable (490100) before they were paid: however, in credit programs those particular 

accounting events do not exist. As a result, we will not illustrate those particular transactions in the case study because they are not necessary. 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 16 of 139 January 2017

1-6. Agreed to make $90,000 of loans, subject to the loan applicants meeting conditions 

placed on them. 

Program Fund

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 480100 Undelivered Orders - Unpaid

19,35013

19,350 B306

 

 

Proprietary Entry

 

None

 

13$90,000 in loan commitments x 21.5 percent subsidy = $19,350.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 17 of 139 January 2017

To recognize the subsidy to be transferred from the program fund.

Financing Fund

DR CR TC

Budgetary Entry

422100 Unfilled Customer Orders without Advance 

 407000 Anticipated Collections from Federal Sources

19,35014

19,350 C101

 

 

Proprietary Entry

 

None

 

14 OMB Circular A-11, Section 185.25, states that for direct loan financing account include the subsidy cost payment obligated in the program account 

but not yet paid on line 1801, Spending authority from offsetting collections, Change in unfilled customer orders, Without advance from Federal 

sources. 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 18 of 139 January 2017

To record allotment. 15 DR CR TC

Budgetary Entry

459000 Apportionments - Anticipated Resources -

 Program Subject to Apportionment

 461000 Allotments - Realized Resources

461000 Allotments - Realized Resource

 480100 Undelivered Orders - Unpaid

19,350

90,000

19,350

90,00016

A122

B306

 

 

Proprietary Entry

 

None

 

15 Note that the unfilled customer order from the program fund constitutes a realized resource (OMB Circular A-11, Section 185.11).

16The $90,000 is the amount of the loans agreed upon, but not yet finalized. It represents a combination of the $19,350 subsidy plus $70,650 ($90,000 

x the unsubsidized rate of 78.5 percent) of borrowing authority.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 19 of 139 January 2017

1-7. Applicants for $87,000 of the $90,000 of loan commitments met the conditions for 

making the loans. Subsidy was transferred from the program fund to the financing fund, 

and the loans were disbursed to the applicants.17 Applicants for the remaining $3,000 of 

loans have not yet met the conditions. 

Program Fund

To disburse the loans. DR CR TC

Budgetary Entry

480100 Undelivered Orders - Unpaid

 490200 Delivered Orders - Obligations, Paid [Other]

18,70518

18,70519 A146

 

Proprietary Entry 

610000 (N) Operating Expenses/Program Costs

 [Basic & Modified Subsidy Expense]

 101000 (G) Fund Balance With Treasury

18,705

18,705

310700 (G) Unexpended Appropriations - Appropriations Used

 570000 (G) Financing Sources from Appropriations

18,705

18,705 B134

 

17Although separate procedures would be involved to transfer the monies and to disburse the loans, they both should be performed simultaneously.

18$87,000 in loans made x 21.5 percent subsidy = $18,705.

19 Per OMB Circular A-11, section 185.26, Just before a loan is disbursed from the financing account, pay the financing account and include the 

subsidy cost payment, Disbursements and reduce the amount of loans payable, Obligated balance, Undelivered orders, of the SF 133, Report on Budget 

Execution. 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 20 of 139 January 2017

Financing Fund

To collect the subsidy DR CR TC

Budgetary Entry

427100 Actual Program Fund Subsidy Collected 18,705

 422100 Unfilled Customer Orders Without Advance 18,70520

 C103

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 18,705

 139900 (N) Allowance for Subsidy 18,70521

To disburse the loans. DR CR TC

Budgetary Entry

480100 Undelivered Orders - Unpaid 87,000

 490200 Delivered Orders - Paid [Loans Made] 87,000 C408

 

Proprietary Entry

 

135000 (N) Loans Receivable 87,000

 101000 (G) Fund Balance With Treasury 87,000

 

20 Per OMB Circular A-11, section 185.26. When subsidy cost payment is received from the program account, reduce line 3B2, Without advance from 

Federal sources, and increase line 1800, Collected.

21This allowance for “subsidized costs” reduces the gross loans receivable of $87,000 to its present value of $68,295 ($87,000 x the 78.5 percent 

unsubsidized cost rate).
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 21 of 139 January 2017

Collections from borrowers during the year were as follows:

• Application fees, $48022

• Loan principal, $10,000

• Loan interest, $500

1-8a. To record unearned fees collected in the financing fund. $80.00 in fees are 

unearned.

Financing Fund

DR CR TC

Budgetary Entry

426100 Actual Collection of Business-Type Fees 80

 406000 Anticipated Collections from Non-Federal Sources 80 C116

 

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 80

 232000 (N) Other Deferred Revenue 80

 

22Though all collections from federal sources are recorded together for purposes of the case, the application fees would probably be collected in 

conjunction with making the loans. They would normally be one of the conditions that applicants would have to meet. Some programs may collect 

fees from borrowers each year, in addition to principal and interest.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 22 of 139 January 2017

1-8b. To record the receipt of previously anticipated collections. 

Financing Fund

DR CR TC

Budgetary Entry

426100 Actual Collection of Business-Type Fees

426200 Actual Collection of Loan Principal

426300 Actual Collection of Loan Interest

400

10,000

500

 406000 Anticipated Collections from Non-Federal Sources 10,900 C109

 

Proprietary Entry 

101000 (G) Fund Balance With Treasury 10,900

 139900 (N) Allowance for Subsidy

 135000 (N) Loans Receivable

 53120023 (N) Interest Revenue – Loans Receivable/ Uninvested 

Funds [Borrowers]

400

10,000

500

1-8c. To record anticipated resources as realized. 

DR CR TC

Budgetary Entry

459000 Apportionments - Anticipated Resources -

 Program Subject to Apportionment

 461000 Allotments - Realized Resources

700

700 A122

 

 

Proprietary Entry

 

None

 

23 USSGL account 134100 would be hit if previously accrued
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 23 of 139 January 2017

1-8d. To record fees as earned. 24

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

232000 (N) Other Deferred Revenue 80

 139900 (N) Allowance for Subsidy 80 C118

 

24 This footnote corresponds to TC C118. Each agency may have a different way of recognizing when fees are earned. For example, 

some agencies may adjust at predetermined intervals such as the end of a month or other accounting period.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 24 of 139 January 2017

1-9. The collections received were paid to Fiscal Service. $700 was for interest on the 

agency loan from Fiscal Service, and $10,280 was for principal.25,

1-9a To record principal repayments to the Fiscal Service.

Financing Fund

DR CR TC

Budgetary Entry

404700 Anticipated Transfers to the General Fund of the U.S. 

Government – Current-Year Authority

10,280

 41460026 Actual Repayments of Debt, Current-Year Authority 10,280 B120

 

Proprietary Entry

251000 (F) Principal Payable to the Bureau of the Fiscal Service 10,280

 101000 (G) Fund Balance With Treasury 10,280

 

25In a direct loan financing fund, offsetting collections other than basic subsidy from the program fund, which is used to make loans, is normally paid 

to Fiscal Service for interest and to reduce the loan principal. Exceptions are made when monies are needed for other purposes, such as to repair or 

maintain foreclosed property on defaulted loans, or Federal Financing Bank funded direct loans , which is not included in this guide.

Note that it is an OMB requirement that the repayment of principal to Treasury is a non-expenditure transaction (i.e. it does not count as obligations or 

outlays), whereas payment of interest on debt to Treasury is an expenditure transaction (it does count). Section 20.6, indicates that agencies should not 

record outlays for the repayment of debt principal, because borrowings and the repayment of debt principal are treated as a means of financing.

26 If prior year authority was available, USSGL account 414700, Actual Repayments of Debt, Prior-Year Balances, would be used. In 

addition use USSGL account 404800, Anticipated Transfers to the General Fund of the U.S. Government – Prior-Year if you use 

USSGL account 414700, Actual Repayments of Debt, Prior-Year Balances,
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 25 of 139 January 2017

1-9b To record payment of interest not previously accrued.

27

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources 

 490200 Delivered Orders - Obligations, Paid [Other] 

700

700 B109

Proprietary Entry 

631000 (F) Interest Expenses on Borrowing From the 

 Bureau of the Fiscal Service and/or the Federal Financing

Bank

700

 101000 (G) Fund Balance With Treasury 700

1-10 After consultation and agreement with OMB, the agency decided to modify the 

terms of loans for some borrowers. Following the modification guidance provided in 

OMB’s circular A-11, Section 185, to determine the cost or savings of the modification 

action, this modification resulted in a decrease to the net present value cash flows, a cost in 

the amount of $1,000.28

This $1,000 is recorded as an obligation and increase of subsidy cost against the current 

fiscal year appropriated budgetary authority in the program fund. Modifications may be 

made only to the extent that budgetary authority for the additional cost has been provided 

in advance and is available in the program account. 

 

27 “The example for illustrative purposes simplifies the transactions reflecting only the year-end payment without an accrual. However, it is standard 

government practice that agencies do accrue interest expense monthly, and the Federal Borrowings Branch (FBB) of the Dept. of Treasury records the 

corresponding interest revenue. The interest revenue accrual and the interest collected by the FBB in the Miscellaneous Receipt Fund are recorded by 

the FBB and not reflected on the agencies books and financial statements.”

28Before making the modifications, the agency must be certain that it has sufficient unobligated resources for subsidy in the program fund. In this case, 

the amount of unobligated resources, as represented by allotments related to the subsidy, amounted to $6,450, ($25,800 less $19,350 from transaction 

1-6).
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 26 of 139 January 2017

Because this $1,000 had originally been apportioned for use in making new loans and was 

part of the calculation of available loan levels and required borrowing authority, the 

agency submitted a revised request for apportionment to reduce apportioned loan levels 

and increase the anticipated repayment of Treasury Debt. The authorized loan level was

reduced from $120,000 to $115,34929 In addition, the adjusted loan levels required only 

$90,54930 in borrowing authority. Based on the original estimates, $92,630 of the original 

$94,200 was executed and converted to cash. 

In addition to calculating the cost or savings of any modifying action, the Agency must 

also calculate the Modification Adjustment Transfer (MAT). The MAT is designed to 

account for the disconnect between the discount rate used to calculate the cost of the 

modification and the interest rate at which the cohort pays or earns interest. The MAT 

corrects a resource imbalance in the financing account that would occur if only the change 

in subsidy cost was reflected in the transfer between the financing account and the general 

fund. The MAT can either be negative or positive. A negative MAT results in a transfer 

from the financing account to the general fund. A positive MAT results in a transfer from 

the general fund to the financing account in the form of a permanent appropriation. Using 

the modification adjustment transfer guidance in OMB Circular A-11 Section 185, the 

agency has determined the above modification has resulted in an upward modification 

adjustment transfer in the amount of $5. 

 

29The subsidy rate for Year 1 is 21.5%. The original subsidy authorized to support $120,000 in loans was $25,800. The remaining subsidy, after the 

modification, was $24,800. This $24,800 will support the making of only $115,349 in new loans ($24,800/. 215). 

30The loan level of $115,349 is provided via subsidy of 21.5 percent (see previous footnote) and borrowing of 78.5 percent. The borrowing authority 

required to support $115,349 of loans is $90,549 (computed as $115,349 x .785, or as $115,349 less the subsidy, computed in the preceding note, of 

$24,800). 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 27 of 139 January 2017

SF 132 Apportionment/Reapportionment Schedule

PROGRAM FUND Original Revised Difference

BUDGETARY RESOURCES

Budget authority:

 Appropriations, discretionary:

1100 Appropriation 30,800 30,800

1920 Total Budgetary Resources 30,800 30,800

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6011 Direct Loan Subsidy 25,800 24,800 (1,000)

6012 Modification Subsidy Cost 1,000 1,000

6013 Administrative Expense 5,000 5,000

6190 Total Budgetary Resources Available 30,800 30,800

FINANCING FUND

BUDGETARY RESOURCES

Budget authority:

Appropriations, discretionary:

1100 Loan Mod Adjustment Transfer Appropriation 5 5

1400 Borrowing authority 94,200 90,549 (3,651)

 Spending authority from offsetting collections, 

mandatory:

1800 Collected 29,685

1801 Change in uncollected payments, Federal sources 645 645

1822 Spending authority from offsetting collections permanently 

reduced

(11,300) (5,676) (8,764)

1825 Actual capital transfers and redemption of debt (10,280) (10,280)

1840 Offsetting Collections – Anticipated 37,800 7,470 (30,330)

1842 Anticipated capital transfers and redemption of debt (11.300) (2,025) 9,275

1920 Total Budgetary Resources 120,700 116,049 4,651

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6011 Direct Loans 120,000 115,349 (4,651)

6014 Interest to Treasury 700 700

6190 Total Budgetary Resources Available 120,700 116,049 (4,651)
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 28 of 139 January 2017

 OMB Circular A-11, Section 185.20, Capital transfers and redemption of debt (line 1842) are not 

obligations and therefore do not need to be apportioned on line 8. However, you do need to plan for 

repayments and show your estimated debt repayments as a negative on line 1842 when you submit your 

SF 132. 

 OMB Circular A-11, Section 185.19, for financing accounts, additional interest payment amounts to 

Treasury (i.e. amounts exceeding your estimate on the most recent approved apportionment) are 

automatically apportioned.

The resulting revised request for apportionment, which OMB approved, is illustrated following 

the entries below.

31 When a direct loan is modified, the offsetting collection for the 

modification cost is used to reduce the debt owed to Treasury. 

 

31Note that the form is also updated for actual transactions, which have occurred, such that actual offsetting collections are shown on line 1800 and 

actual payments to the Bureau of the Fiscal Service are shown on line 1822.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 29 of 139 January 2017

Financing Fund

1-10a To record decreases to indefinite borrowing authority.

32 

(Record the reduction in borrowing authority from SF132).

DR CR TC

Budgetary Entry

445000 Unapportioned Authority -

 414300 Current-Year Decreases to Indefinite Borrowing 

Authority

1,570

1,570 A148

 

 

Proprietary Entry

 

None

10b To record anticipated nonexpenditure payments to Treasury. 33

(To record the increase to anticipated repayment of borrowings from SF132).

DR CR TC

Budgetary Entry

445000 Unapportioned Authority -

 404700 Anticipated Transfers to the General Fund

of the U.S. Government – Current-Year Authority

3,086

3,086 A142

 

 

Proprietary Entry

 

None

 

32 Note that the decrease in indefinite borrowing authority is not included in the modification entry. The decrease in indefinite borrowing authority is

for year 1 in total.

33 USSGL account 404800, Anticipated Transfers to the General Fund of the U.S. Government – Prior-Year may also be needed/used.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 30 of 139 January 2017

10c To record the reduction in apportionment to make loans from SF132.

DR CR TC

Budgetary Entry

461000 Allotments – Realized Resources

 445000 Unapportioned Authority

of the Treasury – Current Year Authority

3,651

3,651 XXX34

 

 

Proprietary Entry

 

None

10d To record the anticipation of appropriation.(from SF132)

DR CR TC

Budgetary Entry

412000 Anticipated Indefinite Appropriations 

 445000 Unapportioned Authority

5

5 A102

445000 Unapportioned Authority 

 459000 Apportionments – Anticipated Resources

Program Subject to Apportionment

5

5 A118

Proprietary Entry 

None

 

34 This is a new TC and is currently not in USSGL Guidance for Section III.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 31 of 139 January 2017

10e To record the return of excess borrowing to Fiscal Service (as a result of the modification).

35

DR CR TC

Budgetary Entry

404700 Anticipated Transfers to the General Fund

of the U.S. Government – Current-Year Authority 

2,081

 414200 Actual Repayment of Borrowing Authority Converted to 

Cash

2,08136 B120

 

Proprietary Entry

 

251000 (F) Principal Payable to Treasury 2,081

 101000 (G) Fund Balance With Treasury 2,081

 

35 Amount of Borrowing Realized in excess of Borrowing required based upon reduced lending authority.

36 If prior year authority was available, USSGL account 414700, Actual Repayments of Debt, Prior-Year Balances, would be used. 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 32 of 139 January 2017

1-11 The agency modified the terms of the loans, as discussed in the previous transaction. 

The present value of these modifications decreased the present value of the loans by 

$1,000, requiring additional subsidy from the program fund, which was transferred to the 

financing fund.

1-11a To record the payment of subsidy to financing fund.

Program Fund

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources 1,000

 490200 Delivered Orders - Obligations, Paid [Other] 1,000 B106

 

Proprietary Entry

610000 (N) Operating Expenses/Program Cost [Basic and 

Modified Subsidy Expense]

1,000

 101000 (G) Fund Balance With Treasury

310700 (G) Unexpended Appropriations - Appropriations Used

 570000 (G) Financing Sources from Appropriations

1,000

1,000

1,000 B134
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 33 of 139 January 2017

1-11b To record the collection of subsidy for loan modification costs in the financing fund. 

Financing Fund

DR CR TC

Budgetary Entry

427100 Actual Program Fund Subsidy Collected 

of the Treasury – Current Year Authority 

1,000

 407000 Anticipated Collections from Federal Sources 1,000 C103

 

Proprietary Entry

 

101000 (G) Fund Balance with Treasury 1,000

 139900 (N) Allowance for Subsidy 1,00037

The $1,000 of collections for the subsidy modifications will be used to repay principal on the 

debt to Fiscal Service. 

 

37Note that the effect of this is to decrease the present value of the loans receivable by $1,000.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 34 of 139 January 2017

1-11c The modification approved and executed in previous transactions was deemed to require a positive 

modification adjustment transfer. The MAT is designed to account for the disconnect between the 

discount rate used to calculate the cost of the modification and the interest rate at which the cohort pays 

or earns interest. If the MAT is negative, the amount should be transferred from the financing account 

to the general fund. A negative MAT (not reflected below) would result in a capital transfer and debits 

to USSGL accounts 579100 Adjustment to Financing Sources , 139900, Allowance for Subsidy, and 

404700, Anticipated Transfers to the General Fund of the U.S. Government – Current-Year Authority,

and credits to USSGL accounts 101000, Fund Balance With Treasury, 719000, Other Gains, and 415100,

Actual Capital Transfers to the General Fund of the U.S. Government, Current-Year Authority, in the 

financing fund. If the MAT is positive then the amount would be recorded as a permanent appropriation 

from the General Fund for the amount of the modification (as reflected in this example).

Program Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

729000 (N) Other Losses 5

 579100 (F) Adjustment to Financing Sources – Credit Reform 5 A206
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 35 of 139 January 2017

Financing Fund

DR CR TC

Budgetary Entry

412500 Loan Modification Adjustment Transfer Appropriation 5

 412000 Anticipated Indefinite Appropriations 5 A202

 

Proprietary Entry

101000 (G) Fund Balance With Treasury 5

 310100 (G) Unexpended Appropriations

310700 (G) Unexpended Appropriations Used

 570000 (G) Expended Appropriations

579100 (F) Adjustment to Financing Sources – Credit Reform

 139900(N) Allowance for Subsidy

5

5

5

5

5

B134

A204
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 36 of 139 January 2017

1-12 To record principal repayments to Fiscal Service via nonexpenditure transfer that 

was previously anticipated.38 39

Financing Fund

DR CR TC

Budgetary Entry

404700 Anticipated Transfers to the General Fund of the U.S. 

Government- Current-Year Authority

1,005

 414600 Actual Repayments of Debt, Current-Year Authority 1,005 B120

 

Proprietary Entry

 

251000 (F) Principal Payable to the Bureau of the Fiscal Service 1,005

 101000 (G) Fund Balance With Treasury 1,005 

Note: Although separated for ease of illustration in the case, transactions 1-10 through 1-12 

should occur simultaneously

 

38 Offsetting Collection from Modification.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 37 of 139 January 2017

1-13 Treasury credited $15 to the financing fund for interest the fund earned on its 

unused Fund Balance with Treasury during the year.

To record receipt of previously anticipated collections. 

Financing Fund

DR CR TC

Budgetary Entry

427300 Interest Collected from Treasury 15

 445000 Unapportioned Authority 15 C109

 

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 15

 531200 (F) Interest Revenue - Loans Receivable/Uninvested 

Funds [Treasury]

15
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 38 of 139 January 2017

1-14 The interest collected from Fiscal Service was used to pay principal on the agency’s 

loan from Fiscal Service.

To record principal repayment to the Fiscal Service via nonexpenditure transfers that was previously 

anticipated. 

Financing Fund

DR CR TC

Budgetary Entry

404700 Anticipated Transfers to the General Fund of the U.S. 

Government – Current-Year Authority

15

 414600 Actual Repayments of Debt, Current-Year Authority 15 B120

 

Proprietary Entry

 

251000 (F) Principal Payable to the Bureau of the Fiscal Service 15

 101000 (G) Fund Balance With Treasury 15 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 39 of 139 January 2017

1-15. Interest of $55 was accrued as receivable on the loans. Of that, $5 was related to 

loans, which were still performing.40

Financing Fund41

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

134100 (N) Interest Receivable – Loans [Accrued] 55

 531200 (N) Interest Revenue – Loans Receivable/

 Uninvested Funds [Borrowers]

55 C420

 

40This footnote corresponds to TC C420. Agencies establish their own criteria for when notes are not “performing”–i.e., when borrowers are 

considered to no longer be paying on their loan principal and interest, at which point the loans may be sent to Treasury or the Justice Department for 

collection.

41Note that there is no budgetary entry here. This is because receivables from the public are generally not recognized in the Federal Budget until they 

are collected.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 40 of 139 January 2017

1-16. The allowance for subsidy was amortized.

Financing Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

139900 (N) Allowance for Subsidy 13042

 531300 (N) Interest Revenue – Subsidy Amortization 130 E118

 

42Interest expense, $700, less interest income, $570, = amount to amortize, $130. This entry can be either debited or credited based upon the interest 

income or interest expense.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 41 of 139 January 2017

1-17. As no further loans were disbursed during the year, the unneeded monies borrowed 

from Treasury were returned.

43

Financing Fund

DR CR TC

Budgetary Entry

461000 Allotments Realized Resources

 414200 Actual Repayment of Borrowing Authority Converted to 

Cash

19,899

19,89944 B120

 

Proprietary Entry

 

251000 (F) Principal Payable to the Bureau of the Fiscal Service 19,899

 101000 (G) Fund Balance With Treasury 19,899 

 

43 This footnote corresponds to TC B120. This entry would not be applicable, if an agency does not borrow all of its authority at the beginning of the 

year. Instead the agency would post a debit to 445000, Unapportioned Authority and a credit to 414300, Decreases to Indefinite Borrowing Authority. 

(A148)
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 42 of 139 January 2017

1-18. The agency determined that $10 of loan principal and $20 of loan interest could not 

be collected, and wrote the receivables off. 45

Financing Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

139900 (N) Allowance for Subsidy

 134100 (N) Interest Receivable - Loans

30

20

 135000 (N) Loans Receivable 10 D414

 

45This footnote corresponds to TC D414. This determination of uncollectibility would be made only after attempting to collect the receivables under 

provisions of the Federal Debt Collection Act.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 43 of 139 January 2017

1-19. Subsidy analysis at year-end indicated that an additional subsidy of $440 was 

needed. The “technical” re-estimate (including interest on the re-estimate) was $435, and 

the interest rate re-estimate was $5.46

Program Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

680000 (N) Future Funded Expenses [Re-estimated Subsidy 

Expense]

440

 217000 (F) Subsidy Payable to Financing Account 440 B420

 

46This footnote corresponds to TC B420 and C438. The concepts underlying these re-estimates are discussed in SFFAS No. 18, Amendments to 

Accounting Standards for Direct Loans and Loan Guarantees in SFFAS No. 2. Note that there are no budgetary entries made, because, in accordance with 

the Federal Credit Reform Act, the budget will not recognize this transaction until Year 2. Per OMB Circular A-11, Section 185. 2, Interest rate 

reestimates adjust for the effect on the subsidy of differences between actual interest rates and the discount rates assumed when estimates were made for 

budget formulation and obligation. These reestimates must be made when the cohort is at least 90 percent disbursed. Technical reestimates adjust for 

revised assumptions about loan performances, such as differences between assumed and actual default rates or new projections of prepayments. See 

Appendix 2 for downward reestimates.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 44 of 139 January 2017

Financing Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

131000 (N) Accounts Receivable 440

 139900 (N) Allowance for Subsidy 440 C438

1-20 Accrued interest of $30 was capitalized (converted to principal) on outstanding 

loans.

Financing Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

135000 (N) Loans Receivable 30

 134100 (N) Interest Receivable - Loans 30 C409
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 45 of 139 January 2017

PRECLOSING ENTRIES

Financing Fund

To close anticipated resources47

To record adjustments for anticipated resources not realized. DR CR TC

Budgetary Entry

445000 Unapportioned Authority

459000 Apportionments – Anticipated Resources

Program Subject to Apportionment

 406000 Anticipated Collections from Non-Federal Sources

6,470

6,455

1,020

 407000 Anticipated Collections from Federal Sources

445000 Unapportioned Authority

5,450

6,455 F112

Proprietary Entry 

None

 

47USSGL account 459000 is zero before closing, and hence is not in this closing entry. Note, however, that if it had a balance, it would also be debited 

for that balance in the entry.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 46 of 139 January 2017

To record adjustments for anticipated reductions not realized. DR CR TC

Budgetary Entry

404700 Anticipated Transfers to the General Fund of the

 U.S. Government – Current-Year

 445000 Unapportioned Authority

1,005

1,005 F114

 

Proprietary Entry 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 47 of 139 January 2017

Preclosing Adjusted Trial Balance

Program 

Fund

Debit/Credit

Financing 

Fund

Debit/Credit

Accounts

Budgetary

404700 Anticipated Transfers to the General Fund of the Treasury U.S. 

Government – Current- Year Authority

406000 Anticipated Collections from Non-Federal Sources

407000 Anticipated Collections from Federal Sources

411500 Loan Subsidy Appropriation 25,800

411700 Loan Administrative Expense Appropriation 5,000

412500 Loan Modification Adjustment Transfer Appropriation 5

414100 Current-Year Borrowing Authority Realized 94,200

414200 Actual Repayment of Borrowing Authority Converted to Cash (21,980)

414300 Current-Year Decreases to Indefinite Borrowing Authority Realized (1,570)

414500 Borrowing Authority Converted to Cash (92,630)

414600 Actual Repayments of Debt, Current-Year Authority (11,300)

414800 Resources Realized From Borrowing Authority 92,630

422100 Unfilled Customer Orders Without Advance 645

426100 Actual Collections of Business-Type Fees 480

426200 Actual Collections of Loan Principal 10,000

426300 Actual Collections of Loan Interest 500

427100 Actual Program Fund Subsidy Collected 19,705

427300 Interest Collected From Treasury 15

445000 Unapportioned Authority

459000 Apportionments - Anticipated Resources - Programs Subject to 

Apportionment

461000 Allotments - Realized Resources (5,500) -

480100 Undelivered Orders - Obligations, Unpaid (645) (3,000)

490200 Delivered Orders – Obligations, Paid [Loans Made]

(87,000)

490200 Delivered Orders – Obligations, Paid [Re-est. Sub and Int]

490200 Delivered Orders – Obligations, Paid [Other] (24,655) (700)

Total 0 0
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 48 of 139 January 2017

 Preclosing Adjusted Trial Balance (Continued)

Proprietary

101000 (G) Fund Balance With Treasury 6,145 2,355

131000 (N) Accounts Receivable (Subsidy Recv.) 440

134100 (N) Interest Receivable – Loans 5

135000 (N) Loans Receivable 77,020

139900 (N) Allowance for Subsidy (20,470)

217000 (F) Subsidy Payable to the Financing Account (440)

251000 (F) Principal Payable to the Bureau of the Fiscal Service (59,350)

310100 (G) Unexpended Appropriations - Appropriations Received (30,800) (5)

310700 (G) Unexpended Appropriations - Used 24,655 5

531200 (N) Interest Revenue - Loans Receivable/Uninvested Funds 

(Borrowers)

(555)

531200 (F) Interest Revenue - Loans Receivable/Uninvested Funds (Treasury) (15)

531300 (N) Interest Revenue - Subsidy Amortization (Int. on PV Assets) (130)

570000 (G) Expended Appropriations (24,655) (5 )

579100 (F) Adjustment to Financing Resources – Credit Reform. (5) (5)

610000 (N) Operating Expenses/Program Costs (Admin.) 4,000

610000 (F) Operating Expenses/Program Costs (Admin.) 950

610000 (N) Operating Expenses/Program Costs (Subsidy) 19,705

631000 (F) Interest Expenses on Borrowing from the Bureau of the Fiscal 

Service and/or the Federal Financing Bank

700

680000 (N) Future Funded Expenses (Subs. Reest.) 440

729000 (N) Other Losses 5

Total 0 0
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 49 of 139 January 2017

CLOSING ENTRIES

1-21 Closing entries were made. 

Program Fund 

To consolidate net cash resources. DR CR TC

Budgetary Entry

490200 Delivered Orders - Obligations, Paid [Other]

420100 Total Actual Resources – Collected

 411500 Loan Subsidy Appropriation

24,655

6,145

25,800 F302

 411700 Loan Administrative Expense Appropriation 5,000 F314

Proprietary Entry 

None

To close the unobligated authority. DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 465000 Allotments - Expired Authority

5,500

5,500 F312

Proprietary Entry 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 50 of 139 January 2017

Program Fund 

To close financing sources and expenses.

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

570000 (G) Financing Sources from Appropriations Used

331000 Cumulative Results of Operations

24,655

440

 610000 (N) Operating Expense/Program Costs

 [Administrative Expenses]

 610000 (F) Operating Expense/Program Costs

 [Administrative Expenses]

 610000 (N) Operating Expense/Program Costs

 [Basic and Modified Subsidy Expense]

 680000 (N) Future Funded Expenses

 [Re-estimated Subsidy Expense

4,000

950

19,705

440 F336

To consolidate unexpended appropriations.

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

310100 (G) Unexpended Appropriations - Appropriations 

Received

 310000 (G) Unexpended Appropriations – Cumulative

30,800

6,145

 310700 (G) Unexpended Appropriations - Appropriations 

Used

 

24,655 F342
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 51 of 139 January 2017

Financing Fund 

To consolidate obligated borrowing authority carried forward48 DR CR TC

Budgetary Entry

414300 Current-Year Decreases to Indefinite Borrowing Authority

414500 Borrowing Authority Converted to Cash

 414100 Current-Year Borrowing Authority Realized

1,570

92,630

94,200 F306

Proprietary Entry 

None

 

48Note that there is no borrowing authority carried forward, because the entire amount of net borrowing authority (account 414100, $78,000, less 

account 414300, $7,850, or $70,650) was used to borrow money from Treasury, as shown by account 414500, which is $70,650.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 52 of 139 January 2017

To consolidate net cash resources. DR CR TC

Budgetary Entry

490200 Delivered Orders - Paid [Loans Made]

490200 Delivered Orders - Obligations, Paid [Other] 

414200 Actual Repayment of Borrowing Authority Converted to 

Cash

414600 Actual Repayments of Debt, Current-Year Authority

420100 Total Actual Resources – Collected

 412500 Loan Modification Adjustment Transfer Appropriation

 414800 Resources Realized from Borrowing Authority

87,000

700

21,980

11,300

2,355

5

92,630

 426100 Actual Collection of Fees

 426200 Actual Collection of Loan Principal

480

10,000

 426300 Actual Collection of Loan Interest

 427100 Actual Program Fund Subsidy Collected

 427300 Interest Collected from Treasury

500

 19,705

15

F302

F314

Proprietary Entry 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 53 of 139 January 2017

Financing Fund 

To close financing sources and expenses49 DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

531200 (N) Interest Revenue – Loans Receivable/Uninvested

 Funds [Borrowers]

531200 (F) Interest Revenue – Loans Receivable/Uninvested

 Funds [Treasury]

555

15

579100 (F) Adjustment to Financing Sources

531300 (N) Interest Revenue - Subsidy Amortization 

[Administrative Expense]

 631000 (F) Interest Expenses on Borrowing from the Bureau of 

the Fiscal Service and/or the Federal Financing Bank

 729000 (N) Other Losses

5

130

700

5

F336

F340

 

49Note that cumulative results of operations from this activity are zero. The financing fund cannot have a net position after closing. Assets must equal 

liabilities.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 54 of 139 January 2017

Post-Closing Adjusted Trial Balance

Program 

Fund

Debit/Credit

Financing 

Fund

Debit/Credit

Accounts

Budgetary

404700 Anticipated Transfers to the General Fund of the U.S. Government –

Current-Year Authority

406000 Anticipated Collections from Non-Federal Sources

407000 Anticipated Collections from Federal Sources

411500 Loan Subsidy Appropriation

411700 Loan Administrative Expense Appropriation

411800 Reestimated Loan Subsidy Appropriation

412500 Loan Modification Adjustment Transfer Appropriation

414100 Current-Year Borrowing Authority Realized

414200 Actual Repayment of Borrowing Authority Converted to Cash

414300 Current-Year Decreases to Indefinite Borrowing Authority Realized

414500 Borrowing Authority Converted to Cash

414600 Actual Repayments of Debt, Current-Year Authority

414800 Resources Realized From Borrowing Authority 

420100 Total Actual Resources - Collected 6145 2,355

422100 Unfilled Customer Orders Without Advance 645

426100 Actual Collections of Business-Type Fees

426200 Actual Collections of Loan Principal 

426300 Actual Collections of Loan Interest

427100 Actual Program Fund Subsidy Collected

427300 Interest Collected From Treasury

445000 Unapportioned Authority

459000 Apportionments - Anticipated Resources - Programs Subject to 

Apportionment

-

461000 Allotments - Realized Resources

465000 Allotments - Expired Authority (5,500) -

480100 Undelivered Orders - Obligations, Unpaid (645) (3,000)

490200 Delivered Orders – Obligations, Paid [Loans Made]

490200 Delivered Orders – Obligations, Paid [Re-est. Sub and Int]
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

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WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 55 of 139 January 2017

490200 Delivered Orders – Obligations, Paid [Other]

Total 0 0

 Post-Closing Adjusted Trial Balance (Continued)

Proprietary

101000 (G) Fund Balance With Treasury 6,145 2,355

131000 (N) Accounts Receivable (Subsidy Recv.) 440

134100 (N) Interest Receivable – Loans 5

135000 (N) Loans Receivable 77,020

139900 (N) Allowance for Subsidy (20,470)

217000 (F) Subsidy Payable to the Financing Account (440)

251000 (F) Principal Payable to the Bureau of the Fiscal Service (59,350)

310000 Unexpended Appropriations - Cumulative (6,145)

310100 (G) Unexpended Appropriations - Appropriations Received

310700 (G) Unexpended Appropriations - Used

331000 Cumulative Results of Operations (440)

531200 (N) Interest Revenue - Loans Receivable/Uninvested Funds 

(Borrowers)

531200 (F) Interest Revenue - Loans Receivable/Uninvested Funds (Treasury)

531300 Interest Revenue - Subsidy Amortization (Int. on PV Assets)

570000 (G) Expended Appropriations 

610000 (N) Operating Expenses/Program Costs (Admin.)

610000 (F) Operating Expenses/Program Costs (Admin.)

610000 (N) Operating Expenses/Program Costs (Basic and Mod. Subsidy)

631000 (F) Interest Expenses on Borrowing from the Bureau of the Fiscal 

Service and/or the Federal Financing Bank

680000 (N) Future Funded Expenses (Subs. Reest.)

Total 0 0
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 56 of 139 January 2017

FINANCIAL STATEMENTS50

Direct Loan Agency

Balance Sheet

September 30, FY-1

BALANCE SHEET

Program Fund Elim Financing 

Fund

Total

Assets:

Intragovernmental

1. Fund Balance With Treasury (101000E) 6,145 2,355 8,500

3. Accounts Receivable (131000E) (440) 440

6. Total Intragovernmental (calc.) 6,145 (440) 2,795 8,500

11. Direct Loan and Loan Guarantees, Net (134100E, 

135000E, 139900E)

56,555 56,555

15. Total Assets (calc.) 6,145 (440) 59,350 65,055

Liabilities:

17. Accounts Payable (217000E) 440 (440)

18. Debt (251000E) 59,350 59,350

20. Total Intragovernmental 440 (440)

28. Total Liabilities (calc.) 440 (440) 59,350 59,350

Net Position:

31. Unexpended Appropriations – All Other Funds (310100E, 

310700E)

6,145 6,145

33. Cumulative Results of Operations - All Other Funds 

(531200E, 570000, 579100, 610000E, 634000E, 680000E, 

729000E)

(440) (440)

35. Total Net Position – All Other Funds (calc.) 5,705 5,705

36. Total Net Position (calc.) 5,705 5,705

37. Total Liabilities and Net Position (calc.) 6,145 (440) 59,350 65,055

 

50 Statements updated as of USSGL TFM Bulletin No. 2017-01. 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 57 of 139 January 2017

Direct Loan Agency

For Fiscal Year Ended September 30, FY-1

STATEMENT OF NET COST

Program Fund Financing 

Fund

Total

Gross Program Costs:

1 Gross costs (610000E, 631000E, 680000E, 729000E) 25,095 705 25,800

2 Less: Earned Revenues (531200E, 531300E) 700 700

3 Net program costs (calc. 1-2) 25,095 5 25,100

8 Net cost of operations (calc. 5+6-7) 25,095 5 25,100
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 58 of 139 January 2017

Direct Loan Agency

For Fiscal Year Ended September 30, FY-1

STATEMENT OF CHANGES IN NET POSITION

Program Fund Financing Fund51 Total

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations:

Budgetary 

Financing 

Sources:

5. Appropriations 

Used (570000E)

24,655 24,665

14. Total Financing 

Sources

24,665 24,665

15. Net Cost of 

Operations (+/-) 

25,095 25,095

16. Net Change 

(calc. 14-15)

 (440) (440) 

17. Cumulative 

Results of 

Operations 

(calc. 3+16)

 (440) (440) 

Unexpended 

Appropriations:

Budgetary 

Financing 

Sources:

 

51Note that the column for unexpended appropriations would normally not be applicable, because the financing fund does not have 

appropriations. However, positive modification adjustment transfers are indefinite appropriated funding.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 59 of 139 January 2017

21. Appropriations 

Received 

(310100E)

30,800 30,800

24. Appropriations 

Used (310700E)

(24,655) (24,665)

25. Total Budgetary 

Financing 

Sources (calc. 

21..24)

 

6,145 6,145

26. Total 

Unexpended 

Appropriations 

(calc. 20 + 25)

6,145 6,145

27. Net Position 

(calc. 17 + 26)

(440) 5,705 (440) 5,705
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 60 of 139 January 2017

Direct Loan Agency

For Fiscal Year Ended September 30, FY-1

STATEMENT OF BUDGETARY RESOURCES

Budgetary Non-Budgetary 

Financing Account

Total

Budgetary Resources:

1290 Appropriations (discretionary and 

mandatory) (411500E, 411700E, 4125000E)

30,800 5 30,805

1490 Borrowing Authority (discretionary and 

mandatory) (414100E, 414200E, 414300E, 

414600E)

59,350 59,350

1890 Spending authority from offsetting 

collections (discretionary and mandatory) 

((426100E,426200E,

426300E,427100,427300,422100E422100B))

31,345 31,345

1910 Total budgetary resources 

$30,800 $90,700 $121,500

Status of Budgetary Resources:

2190 New obligations and upward adjustments 

(total) (480100E-480100B, 490200E)

25,300 90,700 30,740
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

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WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 61 of 139 January 2017

STATEMENT OF BUDGETARY RESOURCES

Unobligated balance, end of year:

2204 Apportioned, unexpired account (461000E) 5,500 5,500

2404 Unapportioned, unexpired accounts 

(445000E)

- -

2500 Total budgetary resources $30,800 $90,700 $121,500

Change in obligated balance

3012 New obligations and upward 

adjustments(total) (480100E-480100B, 

490200E)

25,300 90,700 116,000

3020 Outlays (gross) (-) (490200E) (24,655) (87,700) (112,355)

3050 Unpaid obligations, end of year (480100E480100B)645 3,000 3,645

3072 Change in uncollected pymts, Fed 

Sources (422100E - 422100B)

(645) (645)

3090 Uncollected pymts, Fed sources, end of year 

(-) (422100E)

(645) (645)
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 62 of 139 January 2017

STATEMENT OF BUDGETARY RESOURCES

Memorandum (non add) entries

3200 Obligated balance, end of year (+ or -) 25,945 93,055 118,000

Budget Authority and Outlays, Net:

4175 Budget authority, gross (discretionary and mandatory) 30,800 90,700 121,500

4177 Change in uncollected, pymts, Fed sources (discretionary and 

mandatory) (+ or -) 

(645) (645)

4180 Budget authority, net (total) (discretionary and mandatory) 30,800 90,055 26,510

4185 Outlays, gross (discretionary and mandatory) 24,655 87,700 112,355

4187 Actual offsetting collections (discretionary and mandatory) (-) 30,700 30,700

4190 Outlays, net (total) (discretionary and mandatory) 24,655 118,400 143,055
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 63 of 139 January 2017

Direct Loan Agency

For Fiscal Year Ended September 30, FY-1

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

Program Fund Financing Fund

SF133 

Line

Sch P 

Line

SF133 

Line

Sch P 

Line

BUDGETARY RESOURCES

All accounts:

0703 Direct Loan Subsidy 19,350

0705Direct Loan Modification Subsidy Costs 1,000

0709 Administrative Expenses 4,950

0711 Default Claim Payments on Principal 3,500

0715 Interest Supplement 

1,940

0900 Total new obligations (490200E) 25,300 5,440

Unobligated balance:

1000 Unobligated balance brought forward, October 1 - -

Budget Authority:

Appropriations:

Discretionary:

1100 Appropriation Discretionary (411500E, 411700E) 

30,800 30,800

1160 Appropriation – Discretionary (total) 30,800 30,800
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 64 of 139 January 2017

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

 ACTUAL COLUMN FOR YEAR 1 REPORTING

Mandatory:

1200 Appropriation (412500E) 5 5

1236 Appropriations applied to repay debt (-) 414600E) (5) (5)

1260 Appropriation – Mandatory (total) - -

1400 Borrowing authority (414100E, 414300E) 92,630 92,630

1421 Borrowing authority applied to repay debt (mand.) (22,890) (22,890)

1440 Borrowing authority total 69,650 69,650

Spending Authority from Offsetting Collections:

Mandatory:

1800 Collected (426100E,426200E,426300E,427100E,427300E) 

21,585 21,585 

1801 Change in uncollected payments, Federal sources (+ or -)

(422100E)

645 645

1825 Appropriation applied to repay debt (-) (414600E) (10,295) (10,295)

1850 Spending authority from offsetting collections, mandatory 

 (total)

21,050

 

21,050

1900 Budget authority total (disc. and mandatory) 30,800 30,800 90,700 90,700

1910 Total budgetary resources discretionary and mandatory) 30,800 90,700

1930 Total budgetary resources available 30,800 90,700

Memorandum (non-add) entries:

Unobligated Balance

1940 Unobligated balance expiring (-) (465000E) 1,200

1941 Unexpired unobligated balance, end of year (445000E, 

461000E)

16,800

STATUS OF BUDGETARY RESOURCES

Obligations incurred:

Direct:

2002 Category B (by project) (480100E, 490200E) 25,300 90,700

2004 Direct obligations (total) 25,300 90,700

Unobligated balance
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IN FEDERAL CREDIT PROGRAM

 65 of 139 January 2017

Apportioned

2201 Available in current period (461000E) 5,500 -

2403 Other (445000E)

2500 Total budgetary resources. This line is calculated. Equal sum of 

lines 2001 through 2403. This amount equals the amount on line 

1910 of the Schedule of Budgetary Resources.

30,800 90,700

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3000 Unpaid obligations, brought forward, Oct 1 - -
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 66 of 139 January 2017

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

3001 Adjustment to unpaid obligations, brought forward, Oct 1 (+ or 

-) (480100E)

(645) (645) (3,000) (3,000)

3010 New Obligations, unexpired accounts (480100E – 480100B, 

490200E)

25,300 25,300 90,700 90,700

3020 Outlays (gross) (-) (490200E) (24,655) (24,655) (87,700) (87,700)

3050 Unpaid obligations, end of year (480100E) 

645

 

645 3,000 3,000

3061 Adjustment to uncollected pymts, Fed sources, brought 

forward, Oct 1 (+ or -) (422100E)

(645) (645)

3070 Change in uncollected pymts, Fed sources, unexpired accounts 

(+ or -) (422100E)

645 645

3090 Uncollected pymts, Fed sources, end of year (-) (422100E) (645) (645)

Memorandum (non-add) entries:

3100 Obligated balance, start of year (+ or -) This line is calculated. 

Equals the sum of lines 3000, 3001, 3060, and 3061.

645 645 2,355 2,355

3200 Obligated balance, end of year (+ or -) This line is calculated. 

Equals the sum of detailed obligated balance lines 3000, 3001, 3010, 

3011, 3020, 3030, 3031, 3040, 3041, 3060, 3061, 3070, 3071, 3080, 

and 3081. Also equals sum of lines 3050 and 3090. (422100E)

645 645 2,355 2,355

BUDGET AUTHORITY AND OUTLAYS, NET

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross (411500E, 411700E) 30,800 30,800

4010 Outlays from new discretionary authority (480200E) 24,655 24,655

4020 Outlays, gross (total) 24,655 24,655

4070 Budget authority, net (discretionary) 30,800 30,800

4080 Outlays, net (discretionary) 24,655 24,655
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 67 of 139 January 2017

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

Mandatory:

Gross budget authority and outlays:

4090 Budget authority, gross (This line is calculated. Equals the sum 

of mandatory budget authority [Lines 1200 through 1252, 1270 

through 1273, 1400 through 1430, 1600 through 1631, and 1800 

through 1842 (SF 133). Lines 1200 through 1239, 1270 through 

1273, 1400 through 1420, 1600 through 1622, and 1800 through 

1827 (Sch P)].)

90,700 90,700

4110 Total outlays, gross (480200E) 87,700 87,700

4120 Federal sources (-) (427100E) (19,705) (19,705)

4122 Interest on uninvested funds (-) (427300E) (15) (15)

4123 Non-Federal sources (-) (426100E, 426200E, 426300E) (10,980) (10.980)

4130 Offsets against gross budget authority and outlays (total) (-) (30,700) (30,700)

4140 Change in uncollected pymts, Fed sources, unexpired 

 accounts(+/-) (422100E)

(645) (645)

4150 Additional offsets against budget authority only (total) (645) (645)

4160 Budget authority, net (mandatory) (This line is calculated. 

Equals the total new budget authority (gross) on line 4090 plus the 

amounts on lines 4120 through 4124 and on lines 4140, 4141 and 

4143 (SF 133). Line 4090 plus the amounts on lines 4120 through 

4124 and on lines 4140 and 4142 (Sch P).)

59,355 59,355

4170 Outlays, net (mandatory) (This line is calculated. Equals line 

4110 plus the amounts on lines 4120 through 4124.)

57,000 57,000

4180 Budget authority, net (discretionary and mandatory) (This line is 

calculated. Equals sum of lines 4070 and 4160.)

30,800 30,800 59,355 59,355

4190 Outlays, net (discretionary and mandatory) (This line is 

calculated. Equals sum of lines 4080 and 4170.)

24,655 24,655 57,000 57,000
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 68 of 139 January 2017

Direct Loan Agency

September 30, FY-1

Note 8: Credit Program Note52

2C. Composition of Credit Program Assets

 Loans Receivable (135000E) 77,020

 Interest Receivable (134100E) 5

 Gross Credit Program Assets 77,025

 Less Allowance for Subsidy (139900E) (20,470)

Value of Assets Related to Direct Loans $56,555

D. Loans disbursed, (490200E) $87,000

E. Composition of Subsidy Expense (direct loans disbursed in Year 1)

 Basic Subsidy:

 Defaults $17,400

 Interest Differential $1,740

 Fees (435)

 Total $18,705

Subsidy Modifications 1,000

Subsidy Re-estimates:

Technical $435

Interest Rate 5

440

Total Subsidy Expense $20,145

F. Composition of Subsidy Rate53

Component Percent

Defaults 20.0

Interest differential 2.0

Fees (0.5)

Total 21.5

Interest rate differential,2%;defaults, 20%; fees -5%; total 21.5% (all from 

 

52The information presented here is for the applicable sections of note 8 in OMB’s Circular A-136, Financial Reporting Requirements, for direct loan 

programs, which can be quantified. Narrative information, which is also required, is not presented. The information is displayed as simple as possible 

for ease of reading. Agencies can format the information with more elaborate template if they wish

53This information would be obtained from the subsidy model rather than from account balances.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 69 of 139 January 2017

budget model)

G. Reconciliation of Beginning and Ending Balances of Allowance for 

Subsidized Costs54

Balance October 1 $0

Basic Subsidy Expense (Section E) 18,705

Adjustments:

Subsidy for Loan Modifications (Section E) 1,000

Modification Transfer 5

Fees Received 480

Loans and Interest Written Off (30)

Amortization to Interest (130)

Total 1,325

Balance September 30 Before Re-estimate 20,030

Subsidy Re-estimate (Section E) 440

Balance September 30 After Re-estimate $20,470

O. Admin. Exp., Direct Loan Programs, (610000E Admin) $4,95055

 

54The information called for contains a repeat of the detail in Section E. The illustration provided here summarizes the information rather than 

repeating the detail. Agencies may repeat the detail if they wish, using the crosswalks for related parts of Section E.

55Since the agency operates only a direct loan program, and the administrative expense is already set forth in the statement of net cost, Section O could 

be omitted in the case
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 70 of 139 January 2017

YEAR 2

In fiscal year 1, an upward adjustment of subsidy expense was accrued, in accordance with the requirements of 

SFFAS No. 2, Accounting for Direct Loans and Loan Guarantees. Although the expense was recognized in 

fiscal year 1, the year to which it applies, the Credit Reform Act specifies that budgetary resources to fund it are 

not provided until the following year--fiscal year 2. This section provides journal entries to obtain and apply 

those budgetary resources in fiscal year 2, and the related reporting at year-end

During fiscal year 2, there would be transactions for a new cohort of loans, and accounting would need to be 

separated between the two. However, the basic transactions would be the same for the second cohort as was 

already illustrated for fiscal year 1 for the first cohort. Transactions for cohort 1 would be similar, except that 

no new loans would be made. Rather, loans obligated, but not disbursed at the end of fiscal year 1 would be 

disbursed, and transactions subsequent to disbursement would be basically the same as already illustrated for 

fiscal year 1. The transactions illustrated for this year are limited to those relating to the disposition of the 

upward subsidy re-estimate accrued at the end of the preceding year.

TRANSACTIONS – YEAR 2

2-1. A request for apportionment was prepared for $440 of appropriations in the 

program fund to be transferred to the financing fund, which will use it to repay principal 

on the debt to Treasury. Another request was prepared for the financing fund. The SF132's constituting the request is shown on the next page. 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 71 of 139 January 2017

Direct Loan Agency

Fiscal Year 2

SF 132 Apportionment/Reapportionment Schedule

BUDGETARY RESOURCES Program 

Fund

Financing 

Fund

Budget authority:

 Appropriations, discretionary:

1100 Appropriation 440

 Spending authority from offsetting collections, 

mandatory:

1840 Anticipated Collections, Reimbursements, and Other Income -

1920 Total Budgetary Resources 440 -

APPLICATION OF BUDGETARY RESOURCES

Category B (by project)

6011 Direct Loan Subsidy 440 -

6190 Total Budgetary Resources Available 440 -
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 72 of 139 January 2017

2-1a To record an anticipated appropriation. 

Program Fund

DR CR TC

Budgetary Entry

412000 Anticipated Indefinite Appropriations

 445000 Unapportioned Authority

440

440 A102

 

 

Proprietary Entry

 

None

2-1b To record anticipated resources apportioned but not available for use until they are realized.

Program Fund

DR CR TC

Budgetary Entry

445000 Unapportioned Authority

 459000 Apportionments - Anticipated Resources - Programs Subject to 

Apportionment

440

440 A118

 

 

Proprietary Entry

 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 73 of 139 January 2017

2-1c To record anticipated collections and anticipated non-expenditure payments to Treasury. 

Financing Fund

DR CR TC

Budgetary Entry

407000 Anticipated Collections from Federal Sources

 404700 Anticipated Transfers to the General Fund of the

 U.S. Government – Current-Year

 

Proprietary Entry

440

440 A140

A142

 

 

None 

2-2 To record the enactment of the appropriations. 

Program Fund

DR CR TC

Budgetary Entry

41180056 Reestimated Loan Subsidy Appropriation 440

 412000 Anticipated Indefinite Appropriations 440 A104

Proprietary Entry

101000 (G) Fund Balance With Treasury 440

 310100 (G) Unexpended Appropriations – Appropriations 

Received

440

 

56Note that this is a permanent indefinite appropriation, as opposed to the annual appropriation for basic and modified subsidy that was seen in Year 

1. Under OMB budget rules, a permanent indefinite appropriation is anticipated and only realized when OMB authorizes it use, at which time the 

fund balance with Treasury is also recognized. Hence there is no entry to fund balance with Treasury recorded in the entry to request the 

apportionment.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 74 of 139 January 2017

2-3. To record the realization of previously anticipated and apportioned authority for 

programs subject to apportionment. 

Program Fund

DR CR TC

Budgetary Entry

459000 Apportionments - Anticipated Resources

 - Program Subject to Apportionment

 451000 Apportionments

Proprietary Entry

440

440 A122

 

None 

Financing Fund

No entry57

 

57Note that there is no apportionment of resources, since the $440 expected to be collected is going to be returned to Treasury. Hence, there is no 

apportionment to record. The approved SF-132 will nonetheless be kept to evidence OMB’s approval of the collection and payment to Treasury.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 75 of 139 January 2017

2-4. Agency recorded allotment of authority. 

Program Fund

DR CR TC

Budgetary Entry

451000 Apportionments

 461000 Allotments - Realized Resources

 

Proprietary Entry

440

440 A120

 

 

None 

Financing Fund

No entry58

 

58Because there is no apportionment of resources (see previous footnote), there is no allotment of them.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 76 of 139 January 2017

2-5. The re-estimated subsidy was transferred from the program fund to the financing fund.

2-5a To record the re-estimated subsidy payable in the program account. 

Program Fund

DR CR TC

Budgetary Entry

461000 Allotments - Realized Resources

 480100 Undelivered Orders - Unpaid

440

440 B306

 

 

Proprietary Entry

 

None

Financing Fund

DR CR TC

Budgetary Entry

422100 Unfilled Customer Orders Without Advance

 407000 Anticipated Collections from Federal Sources

440

440 C101

 

 

Proprietary Entry

 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 77 of 139 January 2017

2-5b To record the disbursement of reestimate from the program fund to the financing fund. 

Program Fund

DR CR TC

Budgetary Entry

480100 Undelivered Orders - Unpaid 440

 490200 Delivered Orders – Obligations, Paid 

 [Re-estimated Subsidy and Interest]

440 B105

 

Proprietary Entry

217000 (F) Subsidy Payable to the Financing Account 440

 101000 (G) Fund Balance With Treasury Subsidy Expense]

310700 (G) Unexpended Appropriations - Appropriations Used 

 570000 (G) Financing Sources From Appropriations Used

440

440

440 B134

To record the reclassification of unfunded expenses. DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

610000 (N) Operating Expenses/Program Costs 440

 680000 (N) Future Funded Expenses [Re-estimated Subsidy 

Expense]

 

440 B105
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 78 of 139 January 2017

2-5c To record collection of subsidy for an upward re-estimate in the financing account. 

Financing Fund

DR CR TC

Budgetary Entry

427100 Actual Program Fund Subsidy Collected 440

 407000 Anticipated Collections from Federal Sources 440 C106

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 440

 131000 (F) Accounts Receivable

[Subsidy Receivable from Program Account]

440
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 79 of 139 January 2017

2-6 The financing fund used the subsidy collected to repay principal on its loan from 

Fiscal Service.

To record principal repayments to the Fiscal Service via non-expenditure transfers that was previously 

anticipated. 

Financing Fund

DR CR TC

Budgetary Entry

404700 Anticipated Transfers to the General Fund of the U.S. 

Government – Current-Year Authority

440

 414600 Actual Repayments of Debt, Current-Year Authority 440 B120

Proprietary Entry

 

251000 (F) Principal Payable to the Bureau of the Fiscal Service

 101000 (G) Fund Balance With Treasury

440

440
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 80 of 139 January 2017

Preclosing Adjusted Trial Balance

Program 

Fund

Debit/Credit

Financing 

Fund

Debit/Credit

Accounts

Budgetary

404700 Anticipated Transfers to the General Fund of the U.S. Government -

Current-Year Authority

-

406000 Anticipated Collections from Non-Federal Sources -

407000 Anticipated Collections from Federal Sources (440)

411500 Loan Subsidy Appropriation -

411700 Loan Administrative Expense Appropriation -

411800 Reestimated Loan Subsidy Appropriation 440

412000 Anticipated Indefinite Appropriations

414100 Current-Year Borrowing Authority Realized -

414300 Current-Year Decreases to Indefinite Borrowing Authority Realized -

414500 Borrowing Authority Converted to Cash -

414600 Actual Repayments of Debt, Current-Year Authority (440)

414800 Resources Realized From Borrowing Authority -

420100 Total Actual Resources - Collected

422100 Unfilled Customer Orders Without Advance 440

426100 Actual Collections of Business-Type Fees -

426200 Actual Collections of Loan Principal - 

426300 Actual Collections of Loan Interest -

427100 Actual Program Fund Subsidy Collected 440

427300 Interest Collected From Treasury

445000 Unapportioned Authority -

451000 Apportionments

459000 Apportionments - Anticipated Resources - Programs Subject to 

Apportionment

-

461000 Allotments - Realized Resources

465000 Allotments - Expired Authority

480100 Undelivered Orders - Obligations, Unpaid

490200 Delivered Orders – Obligations, Paid [Re-est. Sub] (440)

490200 Delivered Orders – Obligations, Paid [Other] - -

Total 0 0
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 81 of 139 January 2017

 Preclosing Adjusted Trial Balance (Continued)

Proprietary

101000 (G) Fund Balance With Treasury

131000 (N) Accounts Receivable (Subsidy Recv.) (440)

134100 (N) Interest Receivable – Loans

135000 (N) Loans Receivable

139900 (N) Allowance for Subsidy

217000 (F) Subsidy Payable to the Financing Account 440

251000 (F) Principal Payable to the Bureau of the Fiscal Service 440

310000 Unexpended Appropriations - Cumulative

310100 (G) Unexpended Appropriations - Appropriations Received (440)

310700 (G) Unexpended Appropriations - Used 440

331000 Cumulative Results of Operations -

531200 (N) Interest Revenue - Loans Receivable/Uninvested Funds 

(Borrowers)

-

531200 (F) Interest Revenue - Loans Receivable/Uninvested Funds (Treasury) -

531300 (N) Interest Revenue - Subsidy Amortization (Int. on PV Assets) -

570000 (G) Expended Appropriations (440) 

610000 (N) Operating Expenses/Program Costs (Admin.) -

610000 (F) Operating Expenses/Program Costs (Admin.)

610000 (N) Operating Expenses/Program Costs (Basic +Subsidy) 440

631000 (F) Interest Expenses on Borrowing from the Bureau of the Fiscal 

Service and/or the Federal Financing Bank

680000 (N) Future Funded Expenses (Subs. Reest.) (440) -

Total 0 0
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 82 of 139 January 2017

CLOSING ENTRIES

2-6. Closing entries were made. 

Program Fund

To record the closing of expended authority paid and record the 

consolidation of actual net—funded resources for withdrawn funds.

DR CR TC

Budgetary Entry

490200 Delivered Orders Paid [Re-est. Subsidy and Interest] 

411800 Reestimated Loan Subsidy Appropriation

440

440 F302

 F314

 

Proprietary Entry

 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 83 of 139 January 2017

To record the closing of revenue, expenses, and other financing 

sources accounts to cumulative results of operations.

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

680000 (N) Future Funded Expenses 440

570000 (G) Financing Sources from Appropriations 

 331000 Cumulative Results of Operations

 610000 (F) Operating Expenses/Program Costs 

440

440

440 F336

To record closing of fiscal-year activity to unexpended 

appropriations.

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

310100 (G) Unexpended Appropriations - Appropriations 

Received

440

 310700 (G) Unexpended Appropriations - Appropriations Used 440 F342
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 84 of 139 January 2017

Financing Fund59

To record the consolidation of actual net funded resources and 

reductions for withdrawal of funds.

DR CR TC

Budgetary Entry

414600 Actual Repayments of Debt, Current-Year Authority

 427100 Actual Program Fund Subsidy Collected

440

440 F302

 

 

Proprietary Entry

 

None

To record adjustments for anticipated resources not realized. DR CR TC

Budgetary Entry

404700 Anticpated Collections from the General Fund of the U.S. 

Government – Current-Year

 445000 Unapportioned Authority

440

440 F112

 

 

Proprietary Entry

 

None

 

59Note that there are no closing entries required for the financing fund, because there were no transactions involving financing sources or expenses.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 85 of 139 January 2017

To record the closing of unobligated balances to expiring authority. DR CR TC

Budgetary Entry

445000 Unapportioned Authority

 465000 Expired Authority

 

440

440 F312

 

 

Proprietary Entry

 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 86 of 139 January 2017

Post-Closing Adjusted Trial Balance

Program 

Fund

Debit/Credit

Financing 

Fund

Debit/Credit

Accounts

Budgetary

404700 Anticipated Transfers to the General Fund of the U.S. Government -

Current-Year Authority

-

406000 Anticipated Collections from Non-Federal Sources -

407000 Anticipated Collections from Federal Sources -

411500 Loan Subsidy Appropriation -

411700 Loan Administrative Expense Appropriation -

411800 Reestimated Loan Subsidy Appropriation -

412000 Anticipated Indefinite Appropriations -

414100 Current-Year Borrowing Authority Realized -

414300 Current-Year Decreases to Indefinite Borrowing Authority Realized -

414500 Borrowing Authority Converted to Cash -

414600 Actual Repayments of Debt, Current-Year Authority -

414800 Resources Realized From Borrowing Authority - 

420100 Total Actual Resources - Collected

422100 Unfilled Customer Orders Without Advance 440

426100 Actual Collections of Business-Type Fees -

426200 Actual Collections of Loan Principal -

426300 Actual Collections of Loan Interest -

427100 Actual Program Fund Subsidy Collected -

427300 Interest Collected From Treasury -

445000 Unapportioned Authority -

459000 Apportionments - Anticipated Resources - Programs Subject to 

Apportionment

-

461000 Allotments - Realized Resources -

465000 Allotments - Expired Authority (440)

480100 Undelivered Orders - Obligations, Unpaid

490200 Delivered Orders – Obligations, Paid [Loans Made]

-

490200 Delivered Orders – Obligations, Paid [Re-est. Sub and Int] - -

490200 Delivered Orders – Obligations, Paid [Other] - -
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 87 of 139 January 2017

Total 0 0

 Post-Closing Adjusted Trial Balance (Continued)

Proprietary

101000 (G) Fund Balance With Treasury

131000 (N) Accounts Receivable (Subsidy Recv.) (440)

134100 (N) Interest Receivable – Loans

135000 (N) Loans Receivable

139900 (N) Allowance for Subsidy

217000 (F) Subsidy Payable to the Financing Account 440

251000 (F) Principal Payable to the Bureau of the Fiscal Service 440

310000 Unexpended Appropriations - Cumulative

310100 (G) Unexpended Appropriations - Appropriations Received -

310700 (G) Unexpended Appropriations - Used - -

331000 Cumulative Results of Operations (440) -

531200 (N) Interest Revenue - Loans Receivable/Uninvested Funds 

(Borrowers)

-

531200 (F) Interest Revenue - Loans Receivable/Uninvested Funds (Treasury) -

531300 (N) Interest Revenue - Subsidy Amortization (Int. on PV Assets) -

570000 (G) Expended Appropriations - 

610000 (N) Operating Expenses/Program Costs (Admin.) -

610000 (F) Operating Expenses/Program Costs (Admin.)

610000 (N) Operating Expenses/Program Costs (Basic Subsidy) -

631000 (F) Interest Expenses on Borrowing from the Bureau of the Fiscal 

Service and/or the Federal Financing Bank

680000 (N) Future Funded Expenses (Subs. Recv.) - -

Total 0 0
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 88 of 139 January 2017

FINANCIAL STATEMENTS60

Direct Loan Agency

September 30, FY-2

BALANCE SHEET

Program Fund Elim Financing 

Fund

Total

Assets:

Intragovernmental

1. Fund Balance With Treasury (101000E) 6,145 2,355 8,500

3. Accounts Receivable (131000E)

6. Total Intragovernmental (calc.) 6,145 2,355 8,500

11. Direct Loan and Loan Guarantees, Net (134100E, 

135000E, 139900E)

56,555 56,555

15. Total Assets (calc.) 6,145 - 58,910 65,055

Liabilities:

18. Debt (251000E) 58,910 58,910

20. Total Intragovernmental - - 58,910 58,910

28. Total Liabilities (calc.) - - 58,910 58,910

Net Position:

31. Unexpended Appropriations – All Other Funds (310000E, 

310100E, 310700E)

6,145 6,145

33. Cumulative Results of Operations - All Other Funds 

(331000E, 570000, 610000E, 680000E)

- -

35. Total Net Position – All Other Funds (calc.) 6,145 6,145

36. Total Net Position (calc.) 6,145 6,145

37. Total Liabilities and Net Position (calc.) 6,145 - 58,910 65,055

 

60 Statements updated as of USSGL TFM Bulletin No. 2017-01.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 89 of 139 January 2017

Direct Loan Agency

For Fiscal Year Ended September 30, FY-2

STATEMENT OF CHANGES IN NET POSITION

Program Fund Financing Fund61 Total

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations:

Budgetary 

Financing 

Sources:

1. Beginning 

Balance

(440) (440)

3. Beginning 

Balance, 

Adjusted

(440) (440)

5. Appropriations 

Used (570000E)

440 440

14. Total Financing 

Sources

440 440

15. Net Cost of 

Operations (+/-) 

- -

16. Net Change 

(calc. 14-15)

 440 (440) 

17. Cumulative 

Results of 

Operations 

(calc. 3+16)

 - - 

Unexpended 

 

61Note that the column for unexpended appropriations would normally not be applicable, because the financing fund does not have 

appropriations. However, positive modification adjustment transfers are indefinite appropriated funding.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

 90 of 139 January 2017

Appropriations:

Budgetary 

Financing 

Sources:

18. Beginning 

Balance

6,145 6,145

20. Beginning 

Balance, 

Adjusted

6,145 6,145

21. Appropriations 

Received 

(310100E)

440 440

24. Appropriations 

Used (310700E)

(440) (440)

25. Total Budgetary 

Financing 

Sources (calc. 

21..24)

 -

-

26. Total 

Unexpended 

Appropriations 

(calc. 20 + 25)

6,145 6,145

27. Net Position 

(calc. 17 + 26)

6,145 6,145
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 91 of 139 January 2017

Direct Loan Agency

For Fiscal Year Ended September 30, FY2

STATEMENT OF BUDGETARY RESOURCES

Budgetary Non-Budgetary 

Financing Account

Total

Budgetary Resources:

1000 Unobligated Balance brought forward, Oct 1 5,500 5,500

1290 Appropriations (discretionary and 

mandatory) (411500E, 411700E, 4125000E)

440 440

1490 Borrowing Authority (discretionary and 

mandatory) (414600E)

(440) (440)

1890 Spending authority from offsetting 

collections (discretionary and mandatory) 

((426100E,426200E,

426300E,427100,427300,422100E422100B))

440 440

1910 Total budgetary resources 

$5,940 $- $5,940

Status of Budgetary Resources:

2190 New obligations and upward adjustments 

(total) (480100E-480100B, 490200E)

440 440

Unobligated balance, end of year:

2404 Unapportioned, unexpired accounts 

(445000E, 465000E)

5,500 5,500

2500 Total budgetary resources $5,940 $5,940

Change in obligated balance

3012 New obligations and upward 

adjustments(total) (480100E-480100B, 

490200E)

440 440
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 92 of 139 January 2017

3020 Outlays (gross) (-) (490200E) (440) (440)

3050 Unpaid obligations, end of year (480100E480100B)3,000 3,000

3072 Change in uncollected pymts, Fed 

Sources (422100E - 422100B)

440 440

3090 Uncollected pymts, Fed sources, end of year 

(-) (422100E)

(645) (645)

STATEMENT OF BUDGETARY RESOURCES

Memorandum (non add) entries

3200 Obligated balance, end of year (+ or -) - 2,795 2,975

Budget Authority and Outlays, Net:

4175 Budget authority, gross (discretionary and mandatory) 440 - 440

4177 Change in uncollected, pymts, Fed sources (discretionary and 

mandatory) (+ or -) 

(440) (440)

4180 Budget authority, net (total) (discretionary and mandatory) 440 (440) -

4185 Outlays, gross (discretionary and mandatory) 440 440

4187 Actual offsetting collections (discretionary and mandatory) (-) 440 440

4190 Outlays, net (total) (discretionary and mandatory) 440 (440)
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 93 of 139 January 2017

Direct Loan Agency

For Fiscal Year Ended September 30, FY2

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 2 REPORTING

Program Fund Financing Fund

SF133 

Line

Sch P 

Line

SF133 

Line

Sch P 

Line

BUDGETARY RESOURCES

All accounts:

0703 Direct Loan Subsidy 19,350

0705Direct Loan Modification Subsidy Costs 1,000

0709 Administrative Expenses 4,950

0711 Default Claim Payments on Principal 3,500

0715 Interest Supplement 

1,940

0900 Total new obligations (490200E) 25,300 5,440

Unobligated balance:

1000 Unobligated balance brought forward, October 1 1,200 - -

1051 Unobligated balance from prior year budget authority, net 1,200

Budget Authority:

Appropriations:

Mandatory:

1200 Appropriation (411800E) 440 440

1260 Appropriation – Mandatory (total) 440 440
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 94 of 139 January 2017

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 2 REPORTING

1400 Borrowing authority (414100E, 414300E) - -

1440 Borrowing authority total - -

Spending Authority from Offsetting Collections:

Mandatory:

1800 Collected (426100E,426200E,426300E,427100E,427300E) 440 440

 

1801 Change in uncollected payments, Federal sources (+ or -)

(422100E)

- -

1825 Appropriation applied to repay debt (-) (414600E) (440) (440)

1850 Spending authority from offsetting collections, mandatory 

 (total)

- -

1900 Budget authority total (disc. and mandatory) 1,640 1,640 - -

1910 Total budgetary resources discretionary and mandatory) 1,640 - -

1930 Total budgetary resources available 1.640 -

Memorandum (non-add) entries:

Unobligated Balance

1940 Unobligated balance expiring (-) (465000E) 1,200

1941 Unexpired unobligated balance, end of year (445000E, 

461000E)

(60)

STATUS OF BUDGETARY RESOURCES

Obligations incurred:

Direct:

2002 Category B (by project) (480100E, 490200E) 440 -

2004 Direct obligations (total) 440 -

Unobligated balance

Apportioned

2201 Available in current period (461000E) - -

2403 Other (465000E) 1,200

2500 Total budgetary resources. This line is calculated. Equal sum of 

lines 2001 through 2403. This amount equals the amount on line 

1910 of the Schedule of Budgetary Resources.

1,640 -
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 95 of 139 January 2017

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 2 REPORTING

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3000 Unpaid obligations, brought forward, Oct 1 (480100) 645 3,000 -

3001 Adjustment to unpaid obligations, brought forward, Oct 1 (+ or 

-) (480100E)

(645) (645) (3,000) (3,000)

3010 New Obligations, unexpired accounts (480100E – 480100B, 

490200E)

(645)

3020 Outlays (gross) (-) (490200E) 645 2,355

3050 Unpaid obligations, end of year (480100E) 

645

 

645 3,000 3,000

3061 Adjustment to uncollected pymts, Fed sources, brought 

forward, Oct 1 (+ or -) (422100E)

(645) (645)

3070 Change in uncollected pymts, Fed sources, unexpired accounts 

(+ or -) (422100E)

645 645

3090 Uncollected pymts, Fed sources, end of year (-) (422100E) (645) (645)

Memorandum (non-add) entries:

3100 Obligated balance, start of year (+ or -) This line is calculated. 

Equals the sum of lines 3000, 3001, 3060, and 3061.

645 645 2,355 2,355

3200 Obligated balance, end of year (+ or -) This line is calculated. 

Equals the sum of detailed obligated balance lines 3000, 3001, 3010, 

3011, 3020, 3030, 3031, 3040, 3041, 3060, 3061, 3070, 3071, 3080, 

and 3081. Also equals sum of lines 3050 and 3090. (422100E)

645 645 2,355 2,355

BUDGET AUTHORITY AND OUTLAYS, NET

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross (411500E, 411700E) 30,800 30,800

4010 Outlays from new discretionary authority (480200E) 24,655 24,655

4020 Outlays, gross (total) 24,655 24,655

4070 Budget authority, net (discretionary) 30,800 30,800

4080 Outlays, net (discretionary) 24,655 24,655
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 96 of 139 January 2017

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 2 REPORTING

Mandatory:

Gross budget authority and outlays:

4090 Budget authority, gross (This line is calculated. Equals the sum 

of mandatory budget authority [Lines 1200 through 1252, 1270 

through 1273, 1400 through 1430, 1600 through 1631, and 1800 

through 1842 (SF 133). Lines 1200 through 1239, 1270 through 

1273, 1400 through 1420, 1600 through 1622, and 1800 through 

1827 (Sch P)].)

440 440 - -

4110 Total outlays, gross (480200E) 440 440 - -

4120 Federal sources (-) (427100E) (440)

 

(440)

4130 Offsets against gross budget authority and outlays (total) (-) (440) (440)

4140 Change in uncollected pymts, Fed sources, unexpired 

 accounts(+/-) (422100E)

(645) (645)

4150 Additional offsets against budget authority only (total) (645) (645)

4160 Budget authority, net (mandatory) (This line is calculated. 

Equals the total new budget authority (gross) on line 4090 plus the 

amounts on lines 4120 through 4124 and on lines 4140, 4141 and 

4143 (SF 133). Line 4090 plus the amounts on lines 4120 through 

4124 and on lines 4140 and 4142 (Sch P).)

440 440 (440) (440)

4170 Outlays, net (mandatory) (This line is calculated. Equals line 

4110 plus the amounts on lines 4120 through 4124.)

440 440 (440) (440)

4180 Budget authority, net (discretionary and mandatory) (This line is 

calculated. Equals sum of lines 4070 and 4160.)

440 440 (440) (440)

4190 Outlays, net (discretionary and mandatory) (This line is 

calculated. Equals sum of lines 4080 and 4170.)

440 440 (440) (440)
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 97 of 139 January 2017

APPENDIX 1: ACCOUNTING FOR 

MANDATORY DIRECT LOAN PROGRAMS

INTRODUCTION

The case presented in the body of this document was for common transactions undertaken by a discretionary 

direct loan program. This appendix discusses basic differences between discretionary and mandatory direct 

loan programs, and shows how the prior entries in this guide would differ for a mandatory program with typical 

funding characteristics.

BASIC DIFFERENCES BETWEEN DISCRETIONARY AND MANDATORY PROGRAMS

In a discretionary program, Congress sets a funding level, and program agencies make loans up to the amount 

that can be supported from subsidy in their program fund. Program fund subsidy is usually provided by annual 

or multi-year appropriations, although no-year (permanent indefinite) appropriations can be given by the 

Congress should they choose to do so. 

Annual appropriation authority expires at the end of the fiscal year that it funds, and multi-year appropriations 

expire at the end of the last year of their period of availability. For example, appropriations good for three years 

expire at the end of the third year funded. No new obligations may be placed against expired authority, and 

agencies generally have five years after the date of expiration to fill obligations and pay liabilities before both 

the obligated and unobligated authority is canceled and cannot be used for any purposes. Congress sometimes 

provides for different periods of expiration.62

The government also operates mandatory (entitlement) direct loan programs, in which Congress usually 

authorizes permanent indefinite appropriations for subsidy. If there are a sufficient number of applicants who 

meet criteria established by Congress for the program that the subsidy is insufficient to support the loans, 

additional subsidy monies are normally provided by drawing additional appropriations. The Congress may set 

rules in which it must concur with the additional funding, or it may place a cap on the total funding. These noyear appropriations do not have a date of expiration, and unobligated subsidy appropriation authority may be 

used as long as the programs they fund remain authorized by the Congress.

 

62The legislation providing for this is P.L. 101-510, which is a separate part of the Defense Appropriation Act of 1990, applying more broadly to most 

federal agencies. The U.S. USSGL Board has published a document entitled Budgetary Accounting in the Federal Government which is available through 

its website at https://www.fiscal.treasury.gov/fsreports/ref/ussgl/approved_scenarios/approved_scenarios.htm. 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 98 of 139 January 2017

Congress may provide appropriations for administrative expenses

that have annual, multi-year, or no-year expiration. It is probably most common for both discretionary and 

mandatory direct loan programs to have annual administrative expense appropriations. Thus, no differences in 

accounting for administrative expenses will be presented. However, multi-year administrative expense 

appropriations in other than the last year covered, and no-year administrative expense appropriations, would be 

accounted for in the same manner as will be shown for no-year appropriations of subsidy authority.

Another difference between discretionary and mandatory direct loan programs is that when downward 

adjustments to subsidy are called for during the subsidy re-estimation process to properly value direct loans at 

the estimated value of their cash flows, discretionary programs must generally return the excess money in their 

financing fund to the Treasury by transferring it to a designated miscellaneous receipt account. Mandatory 

programs generally may recycle this excess by transferring it back to their program account. While these are 

the typical situations, Congress may provide for recycling of downward re-estimates for a discretionary 

program, or may provide that downward re-estimates in a mandatory program cannot be recycled, and must be 

returned to Treasury. Recording and reporting downward re-estimates of subsidy for both a discretionary and a 

mandatory program is discussed in Appendix 2 to this document (recall that the agency in the body of this 

document illustrated accrual and disposition of an upward adjustment).

Both discretionary and mandatory direct loan programs generally have the same transactions. In both types of 

programs: 

• Budgetary resources must be formulated, apportioned by OMB, and allotted by the agency; 

• Loans are made based on a combination of program fund subsidy and financing fund borrowing from 

Treasury; 

• Collections from federal and non-federal sources are made and used to repay principal and interest on the 

loan from Treasury;

• The subsidy cost allowance is re-estimated each year taking into account all factors that may have affected 

the estimated cash flows. Any adjustment resulting from the re-estimate is recognized as a subsidy expense 

(or a reduction in subsidy expense).

Where there are differences in the type of subsidy appropriations provided and disposition of downward reestimates, the journal entries to record the same transaction will usually differ as well. The next section 

discusses those differences.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 99 of 139 January 2017

DIFFERENCES IN JOURNAL ENTRIES FOR MANDATORY PROGRAMS

The transactions illustrated for the discretionary direct loan program in the body of this document are virtually 

the same as those that would be undertaken in a mandatory program. However, four of the journal entries 

would be different. The transactions involved, and the budgetary and proprietary entries a mandatory program 

with no-year subsidy authority, but with the same amount of funding and other parameters as the discretionary 

program, would make, are set forth below.63 Note that only certain entries in fiscal year 1 are affected. There 

would be no change from the discretionary program entries in fiscal year 2.

Changes from entries illustrated for the discretionary program are highlighted in bold type. For each transaction 

presented, only the fund entities for which there is a change are presented. If a fund entity present for a 

transaction in the discretionary program guide were not present in the transactions illustrated below, a 

mandatory program would make the same entries for those fund entities. A discussion of changes follows the 

revised entries for each transaction. 

1-1. To record enactment of appropriations.

Program Fund

DR CR TC

Budgetary Entry

412000 Anticipated Indefinite Appropriations 25,800

411700 Loan Administrative Expense Appropriation

 445000 Unapportioned Authority

5,000 30,800 A102

 

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 5,000

 310100 (G) Unexpended Appropriation Received 5,000

 

63It is important to note these assumptions, because they form the basis for changes to be discussed. It is possible that variations, even within the 

assumptions, could exist, and that entries could differ still further. For example, OMB might decide on a lesser amount of subsidy funding than the 

agency anticipated in its request, and, if needed, increase the amount later (see transactions 1-1 and 1-2). The more specific assumption in this 

appendix is that the nature of transactions and amounts between the discretionary and mandatory programs is the same.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 100 of 139 January 2017

 

Explanation of difference

Because the program fund has permanent indefinite authority for its subsidy, formulation of the budget calls for 

the amount of the appropriations to be received to first be anticipated. The appropriations will normally not be 

realized until OMB has approved the amount. Accordingly, two changes must be made in the program fund 

entry. First, the account for anticipated appropriations, 412000, is used instead of the account for realized 

subsidy appropriations, 411500. Second, because the subsidy money is not realized at this point, the amount of 

Fund Balance with Treasury recorded is only the amount of the administrative expense appropriation, which is 

an annual appropriation. Note that there is no change for the financing fund.

1-2. The agency’s requests for apportionment were approved by OMB without change, 

and the apportionment was recorded. 

Program Fund

DR CR TC

Budgetary Entry

411500 Loan Subsidy Appropriations 25,800

 412000 Anticipated – Indefinite Appropriations

 

445000 Unapportioned Authority 30,800

25,800 A102

A104

451000 Apportionments 30,800

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 25,800

 310100 (G) Unexpended Appropriation- Appropriations 

Received

25,800

Explanation of Difference

There are two differences here. First, because the subsidy appropriation was first anticipated and not realized 

until OMB concurred in the amount, an entry to realize the appropriation is made. Second, along with the 

realization, the related fund balance with Treasury must be recorded. Note that the combination of entries 1-1 

and 1-2 yields the same account balances for both the discretionary and mandatory programs.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 101 of 139 January 2017

1-10. After consultation and agreement with OMB, the agency decided to modify the 

terms of loans for some borrowers, reducing the present value of those loans by $1,000.

Financing Fund

DR CR TC

Budgetary Entry

461000 Allotments – Realized Resources

 404700 Anticipated Transfers to the General Fund of the U.S. 

Government – Current-Year Authority

1,000

1,000 A148

 

 

Proprietary Entry

 

None

Explanation of Difference

The basic transaction is the same, the agency is making modifications to loan terms which cost the government 

$1,000. However, some of the related procedures are different. In the discretionary program, the loan level had 

to be reduced, and the related borrowing authority had to be reduced as well. This was because since the 

subsidy appropriation was annual, having to use subsidy to modify loans meant that the subsidy was not 

available to use in making loans (recall that an agency can only make the amount of loans which its subsidy 

monies can support). 

In a mandatory program, in which additional monies can, with OMB approval, be drawn from a permanent 

indefinite appropriation, there is no need to reduce the program level. The $1,000 of subsidy could be 

recovered by drawing an additional $1,000 from the appropriation subsidy. The drawing of it is not made here, 

because in this case, we know from the discretionary program case that the full amount of subsidy, even 

reduced by the $1,000 used for modifications, was not used to make loans. 

Note that the $1,000 of additional subsidy to be collected would need to be paid on the Treasury loan, and hence 

the allotments, which would otherwise have been used to make loans, must be decreased, and the amount of 

anticipated payments on the loan must be increased, by the amount.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 102 of 139 January 2017

If the mandatory agency were to replenish its subsidy, it would first make the request of OMB and, if OMB 

concurred, would realize additional appropriation authority and receive monies from Treasury64. Such request 

would probably be made later in the year if the demand for loans was greater than the subsidy would support, 

which is not the situation in the case.

 

64To make the request to replenish the subsidy now of OMB, the agency would prepare this entry in its program fund and submit an SF-132 to OMB:

DR CR TC

Budgetary Entry

412000 Anticipated - Indefinite Appropriations

 445000 Unapportioned Authority

1,000

1,000 A102

 

 

Proprietary Entry

 

None

Then, when OMB approved the request, the agency would make these entries to record the apportionment:

DR CR TC

Budgetary Entry

411500 Loan Subsidy Appropriations 1,000

 412000 Anticipated – Indefinite Appropriations 1,000 A104

 

Proprietary Entry 

101000 (G) Fund Balance With Treasury 1,000

 310100 (G) Unexpended Appropriation- Appropriations 

Received

1,000

A related SF-132 would be prepared for the financing fund to increase its anticipated federal collections by $1,000. The financing fund entries relating 

to anticipated federal collections in entries 1-1 and 1-2 would be made to request and receive the apportionment, respectively.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 103 of 139 January 2017

Explanation of Difference

In conjunction with the change to entry 1-10, this entry would not be made–indeed; the transaction would not be 

undertaken–because there would be no need to reduce borrowing authority. If, later in the year, the demand for 

loans was such that more subsidy was needed to make loans than was available in the program fund, the 

program fund would obtain additional subsidy from its permanent indefinite appropriation and use it, in 

conjunction with the existing borrowing authority, to make additional loans. If the borrowing authority was 

also insufficient, additional authority would be realized, since it, too, is permanent indefinite authority. 65

1-17. As no further loans were disbursed during the year, the unneeded monies borrowed 

from Treasury were returned. 

Financing Fund

DR CR TC

Budgetary Entry

461000 Allotments – Realized Resources 23,550

 414600 Actual Repayments of Debt, Current-Year Authority 23,550 A148

A156

 

Proprietary Entry 

251000 (F) Principal Payable to the Bureau of the Fiscal Service 23,550

 101000 (G) Fund Balance With Treasury 23,550

Explanation of Differences

The modification which reduced the borrowing authority by $3,651(from $94,200 to $90,549) would not have 

been needed with mandatory program (therefore increasing the repayment in mandatory program from $19,899 

to $23,550).

 

65The borrowing authority in a discretionary direct loan program is also permanent indefinite, but if the subsidy money was annual authority, which 

could not be augmented without additional action by the Congress, borrowing authority could not be increased to make more loans. Even if a 

discretionary program had unobligated borrowing authority, if the amount of unobligated subsidy money was (say) zero, none of the borrowing 

authority could be used to fund new loans unless Congress authorized additional subsidy appropriations.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 1

 104 of 139 January 2017

Trial Balances and Financial Statements

Pre- and post-closing trial balances, financial statements, and the quantitative portion of the credit program note 

for the mandatory program would be the same as for the discretionary program for both fiscal years. Narrative 

descriptions about funding and about loan levels authorized would be different, but are not illustrated for either 

program. (The narrative about program level and nature of subsidy funding would be different, because the 

program loan level was reduced in the discretionary program but not in the mandatory program, and the subsidy 

appropriation in the mandatory program was no-year authority, as opposed to annual authority in the 

discretionary case).
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 105 of 139 January 2017

APPENDIX 2: ACCOUNTING FOR DOWNWARD RE-ESTIMATES

IN DISCRETIONARY AND MANDATORY DIRECT LOAN PROGRAMS

INTRODUCTION

The nature of downward subsidy re-estimates for loans and interest receivable is the same for both discretionary 

and mandatory direct loan programs. In both cases, the present value of the receivables is understated at yearend, meaning that more subsidy money was collected than is necessary to fund future net cash outflows; the 

value of the receivables must be adjusted accordingly; and the financing fund must relinquish the excess 

subsidy amount. A SF-132 Apportionment and Reapportionment Schedule has to be done.66 And like the 

upward subsidy re-estimates, an accrual for the adjustment to subsidy expense must be made at year-end, in the 

program fund, with an accrued receivable in the General Funds Receipt account. The financing fund must 

transfer the excess subsidy amount, with interest, to the General Funds Receipt account in the following year.

The following sections illustrate accounting and reporting for a downward subsidy re-estimate in the amount of 

$440 (which includes a technical re-estimate (including interest on the re-estimate) and an interest rate reestimate).For purposes of the illustration, the same figures are used as were used for the upward re-estimate in 

the case, except that the re-estimate will be considered to be downward. Hence, the re-estimate components 

will be: downward technical re-estimate (including interest on the re-estimate) of $435; and downward interest 

rate re-estimate, $5.67

 

66 OMB Circular A-11, Section 185.18 Do amounts for a downward reestimate (and the interest on the reestimate) need to be apportioned?

67 Per OMB Circular A-11, Section 185. 2, Interest rate reestimates adjust for the effect on the subsidy of differences between actual 

interest rates and the discount rates assumed when estimates were made for budget formulation and obligation. These reestimates must 

be made when the cohort is at least 90 percent disbursed. Technical reestimates adjust for revised assumptions about loan 

performances, such as differences between assumed and actual default rates or new projections of prepayments.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 106 of 139 January 2017

The entries to accrue the downward re-estimate described in the preceding section are shown below. The 

entries are reflected in the Financing Fund, Program Fund, and General Fund Receipt Account.

Fiscal Year 1

Program Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

57910068 (F) Adjustment to Financing Sources – Credit Reform 440

 680000 (N) Future Funded Expenses [Subsidy Re-estimate] 440 D146

 

68 When using USSGL account 579100, Adjustment to Financing Sources – Credit Reform, use Federal Non-Federal attribute domain value “F”.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 107 of 139 January 2017

Financing Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

139900 (N) Allowance for Subsidy 440

 57910069 (F) Adjustment to Financing Sources – Credit Reform

577600 (F) Nonbudgetary Financing Sources Transferred Out

 299000 (G) Other Liabilities Without Related Budgetary 

Obligations

440

440

440

D147

D148

 

69 When using USSGL account 579100, Adjustment to Financing Sources – Credit Reform, use Federal Non-Federal attribute domain value “F”.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 108 of 139 January 2017

General Fund Receipt Account

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

131000 (F) Accounts Receivable 440

 577500 (F) Nonbudgetary Financing Sources Transferred In

599400 (G) Offset to Non-Entity Accrued Collections - Statement 

of Changes in Net Position

 298500 (G) Liability for Non-Entity Assets Not on Statement of 

Custodial Activity

440

440

440

C420

C405

The first entry in the financing fund increases the present value of the receivables, and the second entry accrues 

the transfer-out to the general fund receipt account. As with upward adjustments, the budget rules are that the 

actual cash transfer will not take place until the following year. The negative expense accrual is reflected in the 

program fund.

The General Fund Receipt Account does not belong to the agency; however, it is maintained by the agency and 

must be reported in the agency financial statements as Non-Entity. The agency performs the elimination 

between the credit agency payable (299000 in financing fund) and the general fund receipt account receivable 

(131000) for purposes of compiling its agency-wide financial statements and for the government-wide financial 

statements. 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 109 of 139 January 2017

Financial Statement Effects

The effect of the proprietary entries on the financial statements and credit program note is as follows:

• The debit to account 139900 would reduce that account in the credit program note, and would increase 

the value of credit program assets on the balance sheet. 

• The credit to account 680000 [subsidy Re-estimate] in the program fund would reduce subsidy expense 

and the net cost of operations, yielding, a net cost of operations of -$440. 

• The statement of budgetary resources would not be affected, because there are no budgetary entries 

made for the accrual of downward re-estimates. 

• The General Fund Receipt Account entry to GL 599400 affects the Statement of Changes in Net 

Position, while the GL 579100 entries in the program and financing funds offset one another. The net 

effect would be to book an accrued financing source against the net cost (contra cost, downward reestimate).
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 110 of 139 January 2017

Direct Loan Agency

(Resulting from Downward Re-estimate Transactions in Year )

 STATEMENT OF CHANGES IN NET POSITION

Program Fund Financing Fund General 

Fund 

Receipt 

Account

Total

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations:

Budgetary 

Financing 

Sources:

1. Beginning 

Balance

- - -

3. Beginning 

Balance, 

Adjusted

- - -

11. Transfers-In 

/Out Without 

Reimburseme

nt(577500E, 

577600E)

440 (440) 440

13. Other (+/-) 

(579100E, 

599400E)

440 (440) 440 440

14. Total 

Financing 

Sources

440 - - 440

15. Net Cost of 

Operations 

(+/-) 

(440) - - (440)
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 111 of 139 January 2017

16. Net Change 

(calc. 14-15)

 440 (440) 

17.

 

Cumulative 

Results of 

Operations 

(calc. 3+16)

 - - 

Unexpended 

Appropriatio

ns:

Budgetary 

Financing 

Sources:

18. Beginning 

Balance

- -

20. Beginning 

Balance, 

Adjusted

- -

21. Appropriation

s Received 

(310100E)

(440) (440)

24. Appropriation

s Used 

(310700E)

440 440

25. Total 

Budgetary 

Financing 

Sources (calc. 

21..24)

 

- -

26. Total 

Unexpended 

Appropriation

s (calc. 20 + 

25)

- -

27. Net Position 

(calc. 17 + 

26)

- -
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 112 of 139 January 2017

GTAS

When a credit agency with a downward subsidy re-estimate payable to the general fund receipt 

account reports its trial balance of proprietary accounts to Treasury via the Governmentwide 

Treasury Account Symbol Adjusted Trial Balance System (GTAS for the proprietary accounts), 

it will include the accounts detailed above, including the entries for the General Fund Receipt 

Account. The agency will perform the elimination between the credit agency payable (299000 in 

financing fund) and the general fund receipt account receivable (131000) for purposes of 

compiling its agency-wide financial statements and for the government-wide financial 

statements. The agency should reflect the miscellaneous receipt fund as non-entity.

Please refer to the General Fund Receipt Account Guide for information on these transactions

involving the general fund.

FISCAL YEAR 2

In Year 2, the cash to satisfy the liability to the miscellaneous receipt fund would be transferred 

to that fund from the credit agency’s financing fund. The following entries would be required.

1. To record indefinite or definite authority. 

Financing Fund

DR CR TC

Budgetary Entry

414100 Current-Year Borrowing Authority Realized

 445000 Unapportioned Authority

440

440 A152

 

 

Proprietary Entry

 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 113 of 139 January 2017

2. To obtain an apportionment. 

Financing Fund

DR CR TC

Budgetary Entry

445000 Unapportioned Authority

 451000 Apportionments

440

440 A116

 

 

Proprietary Entry

 

None

3. To allot the apportionment. 

DR CR TC

Budgetary Entry

451000 Apportionments

 461000 Allotments – Realized Resources

440

440 A120

 

 

Proprietary Entry

 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 114 of 139 January 2017

4. Borrowed from the Fiscal Service the full amount required to transfer the 

downward re-estimate. 

Financing Fund

DR CR TC

Budgetary Entry

414800 Resources Relaized from Borrowing Authority 

Converted to Cash

440

 414500 Borrowing Authority Converted to Cash 440 A156

 

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 440

 251000 (F) Principal Payable to the Bureau of the Fiscal 

Service

440

5. To transfer the money. 

Program Fund

To record the reclassification of unfunded expenses.

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

680000 (N) Future Funded Expenses [Subsidy Reestimate]440

 619900 (N) Adjustment to Subsidy Expense 440 D113
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 115 of 139 January 2017

Financing Fund

DR CR TC

Budgetary Entry

461000 Allotments – Realized Resources 440

 490200 Delivered Orders – Paid [Re-estimate Subsidy 

and Interest] 440 B106

D112

 A141

Proprietary Entry

 

299000 (G) Other Liabilities Without Related Budgetary 

Obligations

 219000 (F) Other Liabilities With Related Budgetary 

Obligations

219000 (F) Other Liabilities With Related Budgetary 

Obligations

440

440

440

 101000 (G) Fund Balance With Treasury 440

General Fund Receipt Account

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 440

 131000 (F) Accounts Receivable

599300 (G) Offset to Non-Entity Collections, Statement 

of Changes in Net Position

 599400 (G) Offset to Non-Entity Accrued Collections, 

Statement of Changes in Net Position

440

440

440

C146

D585
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 116 of 139 January 2017

Financial Statement Effects

Although the money is transferred from the Financing Fund to the General Fund Receipt 

Account, there would be no effect on either the Balance Sheet, the Statement of Net Cost, or the 

Changes in Net Position because the cash (SGL 101000-from year 2) and the liability (SGL 

298500-from year one) remaining in the General Fund Receipt Account remain on the agency 

books/statements (General Fund Receipt Account is included on the agency’s financial 

statements, see year one above). 

Please note that in this example the transfer of the downward reestimate in Year 2 was for the 

same amount as was accrued. However, if there was a difference in the amount of the downward 

reestimate in Year 2, the difference would be treated similarly to negative subsidy (please see 

appendix III). If the executed/funded downward reestimate was for an additional amount it 

would reflect a debit to USSGL account 579100 and credit to 619900 in the Program Fund; 

debits to USSGL accounts 139900, 577600, 461000 and credits to USSGL accounts 579100, 

101000, 490200 in the Financing Fund; and debits to USSGL accounts 101000, 599300 and 

credits to USSGL accounts 577500, 298500 in the General Fund Receipt Account (the signs 

would be reversed if the amount was lower).

6. To record the Preclosing of General Fund Receipt Account associated with 

fund balance at yearend.

General Fund Receipt Account

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

298500 (G) Liability for Non-Entity Assets Not Reported 

on the Statement of Custodial Activity

440

 101000 (G) Fund Balance With Treasury 440 F124

There are no budgetary entries. The financial statement effects are to transfer the funds to Fiscal 

Service and reduce the liability on the Balance Sheet. Funds are swept by U.S. Treasury via 

CARS.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 117 of 139 January 2017

The statements of budgetary resources would appear as shown below (for these transactions 

only):

DISCRETIONARY PROGRAM

(Resulting from Downward Re-estimate Transactions in Year 2)

STATEMENT OF BUDGETARY RESOURCES

Budgetary NonBudgetary 

Financing 

Account

Total

Budgetary Resources:

1490 Borrowing Authority (discretionary and 

mandatory) (414100E)

- 440 440

1910 Total budgetary resources $-

$440 $440

Status of Budgetary Resources:

2190 New obligations and upward adjustments 

(490200E)

- 440

2500 Total budgetary resources This line is 

calculated. Equal sum of lines 2001 through 

2403. This amount equals the amount on line 

1910 of the Schedule of Budgetary Resources.

$- $440

Change in Obligated Balance

3012 New obligations and upward adjustments

(total) ( 490200E)

- 440

3020 Outlays (gross) (-) (490200E) - 440

3200 Obligated balance, end of year (+ or -) This 

line is calculated. Equals the sum of detailed 

obligated balance lines 3000, 3001, 3010, 

3011, 3020, 3030, 3031, 3040, 3041, 3060, 

3061, 3070, 3071, 3080, and 3081. Also 

equals sum of lines 3050 and 3090.

- 440

4175 Budget authority, gross (discretionary and 

mandatory) This line is calculated. Equals 

sum of SBR lines 1290, 1490, 1690 and 1890.

- 440

4180 Budget authority, net (total) (discretionary 

and mandatory)

- 440

4185 Outlays, gross (discretionary and mandatory) - 440
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 2

 118 of 139 January 2017

4187 Actual offsetting collections (discretionary 

and mandatory) (-) 

- (440) 70

4190 Outlays, net (total) (discretionary and 

mandatory)

- -

 

70Although the deposit is to the miscellaneous receipt fund, the crosswalk is to a financing fund account. This is because the

miscellaneous receipt fund is a Treasury entity, even though it is associated with the credit agency in the Federal Budget and the

credit agency does not make budgetary entries to the fund. Accordingly, the account crosswalked, which the credit agency would 

have available in its budgetary trial balance for the financing fund, is 490200 in that fund. Note that this represents the obligation 

that resulted in the deposit being made to the miscellaneous receipt fund.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 119 of 139 January 2017

APPENDIX 3: NEGATIVE SUBSIDY

1. To record authority after law is passed.

Financing Fund

DR CR TC

Budgetary Entry

414100 Current-Year Borrowing Authority Realized

 445000 Unapportioned Authority

1,080

1,080 A152

 

 

Proprietary Entry

 

None

2. To record apportionment.

Financing Fund

DR CR TC

Budgetary Entry

445000 Unapportioned Authority

 451000 Apportionments [Loans]

1,080

1,000

 451000 Apportionments [Neg Subs] 80 A116

 

Proprietary Entry

 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 120 of 139 January 2017

3. To record allotment. 

Financing Fund

DR CR TC

Budgetary Entry

451000 Apportionments [Loans]

451000 Apportionments [Neg Subs]

1,000

 480

 461000 Allotments – Realized Resources [Loans]

 461000 Allotments – Realized Resources [Neg Subs]

1,000

480 A120

 

Proprietary Entry

 

None

4. The agency obligates a $1,000 loan with a negative 8% subsidy rate (80).

Financing Fund

DR CR TC

Budgetary Entry

461000 Allotments – Realized Resources [Loans]

461000 Allotments – Realized Resources [Neg Subs]

 480100 Undelivered Orders – Obligations, Unpaid

[Loans

1,000

 80

1,000

 480100 Undelivered Orders – Obligations, Unpaid [Neg 

Subs]

80 B306

 

Proprietary Entry

 

None
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 121 of 139 January 2017

Transaction 5A and 5B should be done simultaneously.

5A. To borrow funds from Treasury

Financing Fund 

DR CR TC

Budgetary Entry

414800 Resources Realized From Borrowing Authority 540

 414500 Borrowing Authority Converted to Cash 540 A156

 

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 540

 251000 (F) Principal Payable to the Bureau of the Fiscal 

Service

540

5B. To record disbursements to borrower $500.

Financing Fund 

DR CR TC

Budgetary Entry

480100 Undelivered Orders – Obligations, Unpaid

[Loans]

500

 490200 Delivered Orders – Obligations, Paid [Loans] 500 C408

 

Proprietary Entry

 

135000 (N) Loans Receivable 500

101000 (G) Fund Balance With Treasury 500
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 122 of 139 January 2017

5C. To record negative subsidy disbursement (New TCs).

Program Fund

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

57910071 (F) Adjustment to Financing Sources – Credit 

Reform

40

 619900(N) Adjustment to Subsidy Expense 40 D150

Financing Fund

DR CR TC

Budgetary Entry

480100 Undelivered Orders – Obligations, Unpaid [Neg 

Subs]

40

 490200 Delivered Orders – Obligations, Paid [Neg 

Subs] 40

D149

 

Proprietary Entry

 

139900 (N) Allowance for Subsidy 40

 57910072 (F) Adjustment to Financing Sources – Credit 

Reform 

577600 (F) Nonbudgetary Financing Sources Transferred 

Out

 101000 (G) Fund Balance With Treasury 

40

40

40 E509

 

71 When using USSGL account 579100, Adjustment to Financing Sources – Credit Reform, use Federal Non-Federal attribute 

domain value “F”.

72 When using USSGL account 579100, Adjustment to Financing Sources – Credit Reform, use Federal Non-Federal attribute 

domain value “F”.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 123 of 139 January 2017

General Fund Receipt Account

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

101000 (G) Fund Balance With Treasury 40

 577500 (F) Nonbudgetary Financing Sources Transferred 

In

599300 (G) Offset to Non-Entity Collections Statement of 

Changes in Net Position

 298500 (G) Liability for Non-Entity Assets Not 

Reported on Statement of Custodial Activity

40

40

40

C155

C147

Preclosing Entry

6. To record the closing of General Fund receipt accounts 

associated with fund balance at yearend

General Fund Receipt Account

DR CR TC

Budgetary Entry

None

 

 

Proprietary Entry

 

298500 (G) Liability for Non-Entity Assets Not Reported 

on the Statement of Custodial Activity

40

 101000 (G) Fund Balance With Treasury 40 F124

 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 124 of 139 January 2017

 YEAR 1

 Preclosing Adjusted Trial Balance

Program 

Fund

Debit/Credit

Financing 

Fund

Debit/Credit

GFR Eliminations Consolidated

Accounts

Budgetary

414100 Current-Year 

Borrowing Authority 

Realized

1,080 1,080

414500 Borrowing 

Authority Converted to 

Cash

(540) (540)

414800 Resources Realized 

From Borrowing Authority

 540 540

480100 Undelivered 

Orders - Obligations, 

Unpaid

(500) (500)

480100 Undelivered 

Orders - Obligations, 

Unpaid

(40) (40)

490200 Delivered Orders –

Obligations, Paid [Re-est. 

Sub]

(500) (500)

490200 Delivered Orders –

Obligations, Paid [Other]

(40) (40)

 Preclosing Adjusted Trial Balance (Continued)

Proprietary

101000 (G) Fund Balance 

With Treasury

135000 (N) Loans 

Receivable

500 500

139900 (N) Allowance for 

Subsidy

40 40

251000 (F) Principal 

Payable to the Bureau of 

the Fiscal Service

(540) (540)

298500 (G) Liability for 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 125 of 139 January 2017

Non-Entity Assets Not on 

Statement of Custodial 

Activity

577500 (G) Nonbudgetary 

Financing Sources 

Transferred In

(40) 40 -

577600 (G) Nonbudgetary 

Financing Sources 

Transferred Out

(40) (40) -

579100 (F) Adjustment to 

Financing Sources – Credit 

Reform

40 (40) -

599300 (G) Offset to NonEntity Collections -

Statement of Changes in 

Net Position

40 40

619900 (N) Adjustment to 

Subsidy Expense

(40) (40)

Total 0 0 0 0
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 126 of 139 January 2017

For the 1st Quarter ended September 30, Year 1

STATEMENT OF BUDGETARY RESOURCES

Budgetary Non-Budgetary 

Financing Account

Total

Budgetary Resources:

1000 Unobligated balance, brought forward, 

October 1

- -

1051 Unobligated balance from prior year budget 

authority, net This line is calculated. Equals 

sum of SBR lines 1000, 1020, 1021, and 

1043.

- -

1490 Borrowing Authority (discretionary and 

mandatory) (414100E)

1,080 1,080

1910 Total budgetary resources 

$1,080 $1,080

Status of Budgetary Resources:

2190 New obligations and upward adjustments 

(total) (480100E-480100B, 490200E)

1,080 1,080

Unobligated balance, end of year: - -

2204 Apportioned, unexpired account (461000E) - -

2500 Total status of budgetary resources 1,080 1,080
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 127 of 139 January 2017

STATEMENT OF BUDGETARY RESOURCES

Change in obligated balance

3012 New obligations and upward 

adjustments(total) (480100E-480100B, 

490200E)

 1,080 1,080

3020 Outlays (gross) (-) (490200E) (540) (540)

3050 Unpaid obligations, end of year (480100E480100B)540 540

Memorandum (non add) entries

3200 Obligated balance, end of year (+ or -) 1,080 1,080

Budget Authority and Outlays, Net:

4175 Budget authority, gross (discretionary and 

mandatory)

1,080 1,080

4180 Budget authority, net (total) (discretionary 

and mandatory)

 1,080 1,080

4185 Outlays, gross (discretionary and mandatory) 540 540

4190 Outlays, net (total) (discretionary and 

mandatory)

540 540

 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 128 of 139 January 2017

As of 1st Quarter September 30, Year 1

 BALANCE SHEET Program Fund Financing 

Fund

Assets:

Intragovernmental

1. Fund Balance With Treasury (101000E) -

6. Total Intragovernmental (calc.) -

11. Direct Loan and Loan Guarantees, Net (134100E, 

135000E, 139900E)

540

15. Total Assets (calc.) 540

Liabilities:

18. Debt (251000E) 540

19. Other (299000E) -

20. Total Intragovernmental 540

28. Total Liabilities (calc.) 540

Net Position:

33. Cumulative Results of Operations - All Other Funds 

(579100E, 599300E, 619900E)

-

35. Total Net Position – All Other Funds (calc.) -

36. Total Net Position (calc.) -

37. Total Liabilities and Net Position (calc.) 540
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 129 of 139 January 2017

For the 1st Quarter ended September 30, Year 1

STATEMENT OF NET COST

Program Fund Financing 

Fund

Total

Gross Program Costs:

1. Gross costs (619900E)

(40) (40)

3. Net program costs (calc. 1-2) (40) (40)

6. Costs not assigned to programs

7. Less: earned revenues not attributed to programs

8. Net cost of operations (calc. 5+6-7)

(40) (40) (40)
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 130 of 139 January 2017

For Fiscal Year Ended September 30, FY-1

STATEMENT OF CHANGES IN NET POSITION

Program Fund Financing Fund73 Total

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations

Unexpended 

Appropriations

Cumulative 

Results of 

Operations:

Budgetary 

Financing 

Sources:

1. Beginning 

Balance

3. Beginning 

Balance, as 

adjusted

5. Appropriations 

Used (570000E)

13. Other (579100E, 

599300E)

40 40

14. Total Financing 

Sources

 40 40

15. Net Cost of 

Operations (+/-) 

(40) 40

16. Net Change 

(calc. 14-15)

 - - 

17. Cumulative 

Results of 

Operations 

(calc. 3+16)

 - - 

 

73Note that the column for unexpended appropriations would normally not be applicable, because the financing fund does not have 

appropriations. However, positive modification adjustment transfers are indefinite appropriated funding.
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 131 of 139 January 2017

Unexpended 

Appropriations:

Budgetary 

Financing 

Sources:

18. Beginning 

Balance

20. Beginning 

Balance, as 

adjusted

21. Appropriations 

Received 

(310100E)

24. Appropriations 

Used (310700E)

 

25. Total Budgetary 

Financing 

Sources (calc. 

21..24)

 

26. Total 

Unexpended 

Appropriations 

(calc. 20 + 25)

27. Net Position 

(calc. 17 + 26)

 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 132 of 139 January 2017

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

ACTUAL COLUMN FOR YEAR 1 REPORTING

Program Fund Financing Fund

SF133 

Line

Sch P 

Line

SF133 

Line

Sch P 

Line

BUDGETARY RESOURCES

All accounts:

0900 Total new obligations (490200E) 540

Unobligated balance:

1000 Unobligated balance brought forward, October 1 - -

Budget Authority:

Mandatory:

1400 Borrowing authority (414100E) 1,080 1,080

1440 Borrowing authority total 1,080 1,080

1900 Budget authority total (disc. and mandatory) 1,080 1,080

1910 Total budgetary resources discretionary and mandatory) 1,080 1,080

1930 Total budgetary resources available 1,080 1,080

STATUS OF BUDGETARY RESOURCES

Obligations incurred:

Direct:

2002 Category B (by project) (480100E, 490200E) 1.080 1,080

2004 Direct obligations (total) 1,080 1,080

Unobligated balance

Apportioned

2201 Available in current period (461000E) - -

2500 Total budgetary resources. This line is calculated. Equal sum 

of lines 2001 through 2403. This amount equals the amount on line 

1910 of the Schedule of Budgetary Resources.

1,080 1,080

CHANGE IN OBLIGATED BALANCE
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 133 of 139 January 2017

SF 133: Report on Budget Execution and Budgetary Resources &

Budget Program and Financing Schedule (Schedule P)

 ACTUAL COLUMN FOR YEAR 1 REPORTING

Unpaid obligations:

3001 Adjustment to unpaid obligations, brought forward, Oct 1 (+ or 

-) (480100E)

(540) (540)

3010 New Obligations, unexpired accounts (480100E – 480100B, 

490200E)

(1,080) (1,080)

3020 Outlays (gross) (-) (490200E) 540 540

3050 Unpaid obligations, end of year (480100E) 540 540

Memorandum (non-add) entries:

3100 Obligated balance, start of year (+ or -) This line is calculated. 

Equals the sum of lines 3000, 3001, 3060, and 3061.

(540) (540)

3200 Obligated balance, end of year (+ or -) This line is calculated. 

Equals the sum of detailed obligated balance lines 3000, 3001, 3010, 

3011, 3020, 3030, 3031, 3040, 3041, 3060, 3061, 3070, 3071, 3080, 

and 3081. Also equals sum of lines 3050 and 3090.

540 540

BUDGET AUTHORITY AND OUTLAYS, NET

Mandatory:

Gross budget authority and outlays:

4090 Budget authority, gross (This line is calculated. Equals the sum 

of mandatory budget authority [Lines 1200 through 1252, 1270 

through 1273, 1400 through 1430, 1600 through 1631, and 1800 

through 1842 (SF 133). Lines 1200 through 1239, 1270 through 

(414100E)

1,080 1,080

4100 Outlays from new mandatory authority (490200E) 540 540

4110 Outlays, gross (total) (490200E) 540 540

4160 Budget authority, net (mandatory) (This line is calculated. 

Equals the total new budget authority (gross) on line 4090 plus the 

amounts on lines 4120 through 4124 and on lines 4140, 4141 and 

4143 (SF 133). Line 4090 plus the amounts on lines 4120 through 

4124 and on lines 4140 and 4142 (Sch P).)

1,080 1,080

4170 Outlays, net (mandatory) (This line is calculated. Equals line 

4110 plus the amounts on lines 4120 through 4124.)

540 540
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 134 of 139 January 2017

4180 Budget authority, net (discretionary and mandatory) (This line is 

calculated. Equals sum of lines 4070 and 4160.)

 1,080 1,080

4190 Outlays, net (discretionary and mandatory) (This line is 

calculated. Equals sum of lines 4080 and 4170.)

540 540

Closing Entries

1. To record consolidation of actual resources. 

DR CR TC

Budgetary Entry

420100 Total Actual Resources - Collected

 414800 Resources Realized from Borrowing Authority

Proprietary Entry

540

540 F302

 

None 

2. To record paid delivered orders to total actual resources. 

DR CR TC

Budgetary Entry

490200 Delivered Orders – Obligations, Paid

 420100 Total Actual Resources - Collected

Proprietary Entry

540

540 F314

 

None 
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 135 of 139 January 2017

3. To record the closing of borrowing authority. 

DR CR TC

Budgetary Entry

414500 Borrowing Authority Converted to Cash 

414900 Borrowing Authority Carried Forward

 414100 Current-Year Borrowing Authority Realized

 414900 Borrowing Authority Carried Forward 

Proprietary Entry

540

1,080

1,080

540 F306

None 

4. To record the closing of revenue, expense, and other financing source accounts to 

cumulative results of operations.

DR CR TC

Budgetary Entry

None

Proprietary Entry

331000 Cumulative Results of Operations

 577600 (F) Nonbudgetary Financing Sources Transferred Out

 579100 (F) Adjustment to Financing Sources - Credit Reform

577500 (F) Nonbudgetary Financing Sources Transferred In

619900 (N) Adjustment to Subsidy Expense

 331000 Cumulative Results of Operations

80

40

40

40

40

40 F336
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 3

 136 of 139 January 2017

YEAR 1-

 POST-CLOSING TRIAL BALANCE

Program Fund

Debit/Credit

Financing 

Fund

Debit/Credit

GFR Eliminations Consolidated

Accounts

Budgetary

414900 Borrowing Authority 

Carried Forward

540 540

480100 Undelivered Orders -

Obligations, Unpaid

(500) (500)

480100 Undelivered Orders -

Obligations, Unpaid

(40) (40)

TOTAL 0 0

Proprietary

101000 (N) Fund Balance With 

Treasury

135000 (N) Loans Receivable 500 500

139900 (N) Allowance for 

Subsidy

40 40

251000 (F0) Principal Payable to 

the Bureau of the Fiscal Service

(540) (540)

Total 0 0 0 0
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 4

 137 of 139 January 2017

APPENDIX 4: REFERENCES

This appendix lists some key references and web sites for readers who want to obtain additional information.

OFFICE OF MANAGEMENT AND BUDGET

 OMB Circular A-129, Policies for Federal Credit Programs and Non-Tax Receivables Accounting and 

Auditing Policy Committee Technical Release

 OMB Circular A-136, Financial Reporting Requirements

 OMB Circular A-11, Preparation, Submission, and Execution of the Budget

 OMB Credit Model

 Office of Federal Financial Management (202) 395-3993

 Website: www.whitehouse.gov/omb 

FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD

Statement of Federal Financial Accounting Standards (SFFAS) No. 1, Selected Assets and Liabilities

 SFFAS No. 2, Accounting for Direct Loans and Loan Guarantees

 SFFAS No. 18, Amendments to Accounting Standards for Direct Loans and Loan Guarantees

 SFFAS No. 19, Technical Amendments to Accounting Standards for Direct Loans and Loan Guarantees

 Technical Release No. 3: Preparing and Auditing Direct Loan and Loan Guarantee Subsidies Under the 

Federal Credit Reform Act

 Technical Release No. 6: Preparing Estimates for Direct Loan and Loan Guarantee Subsidies Under the 

Federal Credit Reform Act

 FASAB Staff at (202) 512-7350

 Website: www.fasab.gov

TREASURY BUREAU OF THE FISCAL SERVICE

 U.S. Standard General Ledger (codified in Treasury Financial Manual)
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 4

 138 of 139 January 2017

 USSGL Staff at (202) 874-7418

 Website: https://www.fiscal.treasury.gov/fsreports/ref/ussgl/ussgl_home.htm

 TFM Chapter 2-4600 Treasury Reporting Instructions for Credit Reform Legislation

TREASURY BUREAU OF THE FISCAL SERVICE

 Federal Investment Borrowings Branch; (304) 480-7488

 Website: www.treasurydirect.gov
GUIDE FOR BASIC ACCOUNTING AND REPORTING 

FOR DIRECT LOAN PROGRAMS 

WITHOUT COLLATERAL 

IN FEDERAL CREDIT PROGRAM

APPENDIX 5

 139 of 139 January 2017

APPENDIX 5: CREDIT REFORM SUBCOMMITTEE

Leon H Fleischer, Chair SBA

Rachel Beasely TREASURY

Patricia Brown USDA

Alfred Buck USAID

Angela Carroll USDA

Adam Charlton Fiscal Service

Barbara J Clark STATE

Victoria A Crouse DOD

Tyler Curtis OMB

Andrea David USAID

Katherine Day DOD

Dorothy Dicks TREASURY

Kevin Dugas DOT

Chris Dyson ED

Joy Elder TREASURY

Tracy Galloway USDA

Margaret Gebhard OMB

Leslie P. Godsey SBA

Peggy Grygiel TREASURY

Crystal Hanna TREASURY

Pamela Heijmans OMB

Joseph O. Henry SBA

Robert Holliday TREASURY

Stacy Ida TREASURY

Loretta Jenkins USDA

James Jordan USDA

Kim Klein DOE

Angela Klevorn USDA

Rhonda Knolhoff USDA

Stacy Kolweier USDA

John S. Kushman SBA

Amanda Lammering USDA

Cloretta Lewis USDA

Terri Martin OPIC

Jennifer Magrath USDA

Sean McMahon ED

Robert A. Montgomery SBA

Michelle Murphy VA

Mary Onofrio NOAA

Eileen Parlow SEC

Mike K. Peterson SBA

Steve D. Ramey SBA

Jill Reeves TREASURY

Alice Rice DOD

Chantha Seng USDA

Michael Smith FCC

Jill Stalnaker TREASURY

Nora Stein OMB

Yong Sun HUD

Lindsey Syron USDA

Teresa Tancre OMB

Greg Thebeau USDA

James White HUD

William Willer USDA

Kam Yu USDA